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HIT by aberrant weather, UK grain yields are down by an estimated 15 per cent this year; prices are up by 29 per cent and will undoubtedly continue to rise. The major world grain producers have been hit even harder. As one consequence, British swine and poultry producers are facing severe constraints on their ability to produce food at reasonable prices. In general, the economic future for most of us in Europe looks bleak; only the outlook for those exploiting the futures market in food products looks good.
However, in the emerging world, where two thirds of growth in the global economy comes from, it is predicted that the next two years will see economic growth per year ranging from 7 to 8 per cent in developing Asia and …
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