Recent outbreaks in eastern Australia, the worst flooding in half a century, the United Kingdom Meteorological experts said that La Nina is caused by the east coast of Australia, annual rainfall than the level of reason.
current climate anomaly trends have spread to China, despite the extreme weather this time showed the opposite of the flood - drought.
the World Bank has warned that coal iron ore prices
expected to soaring
Australia is the world's largest coal exporter, Queensland, Australia is owned 40% of the coal reserves. Energy analysts predict the flood of information the company can record coking coal prices pushed $ 400 per tonne.
China is Australia's major coal importer, it caused flooding in Australia coal prices could lead to China's declining coal imports from Australia. In addition, Colombia, South Africa, Russia and Indonesia, the weather also damaged and coal transport. Australian coking coal prices has not only developed countries to emerging economies had an impact on economic growth.
international investment bank Goldman Sachs recently raised its 2011 spot iron ore sold to China, the average price of 135 dollars per ton rose from $ 146, because .
substantially cut agricultural products or are food shortages
coal industry and iron ore that brought short-term impact compared to the food problem caused by flooding will be more severe. January and February are usually the Australian wheat harvest of the season, a lot of rain will result in reduced production of wheat in 2010, Australian wheat production is 22.5 million tonnes, of which 14.5 million tonnes for export, accounting for global market share of wheat exports to 11 %. It is predicted that floods will result in Australian wheat production by half. In addition to wheat, fruit and sugar production will decline.
Meanwhile, corn futures contract prices low in June last year rose 94%, soybean and wheat prices to increase by 51% and 80%. According to data published by FAO, global food price index in December 2010 reached 215, nearly the highest point in 20 years.
the recent rise in global food price index, mainly by the cooking oil, grain, sugar and meat prices led the prices of these products may continue to rise. The World Bank has warned that >
but temporarily constitute prices, but do not yet constitute a direct commodity prices in China's
speed. Industrial Bank report also predicted China's CPI this year will be 5% -6%. Wang Liang Ye Cass
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