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Russia halts imports of Monsanto corn over cancer fears

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Russian authorities temporary suspended the import and sale of Monsanto’s genetically-modified corn after a French study suggested it may be linked to cancer.

The Russia’s consumer-rights regulator Rospotrebnadzor asked scientists at the country’s Institute of Nutrition to review the study. The watchdog has also contacted to European Commission’s Directorate General for Health & Consumers to explain the EU’s position on GM corn.

The report prepared by France’s University of Caen and published last week, claimed that rats fed over a two-year period with Monsanto’s genetically modified NK603 corn, developed more tumors and other pathologies than a test group fed with regular corn. The NK603, sold under the Roundup label, is genetically engineered to withstand glyphosate weed killer.

The company criticized the study, saying it “doesn’t meet minimum acceptable standards for this type of scientific research” and the data was incomplete.

Monsanto also said Russia’s ban will have little effect on its business as the country import small volumes of corn from the US. Besides that, the Russian government doesn’t permit farmers to plant GM crops. “Russia is a net exporter of grain, so the actual impact of their temporary suspension, if any, is likely to be small,” the spokesman said in a statement.

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Global Food Prices Soaring, Result of Crop Failures in US, Russia, ethanol

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Photo credit: CraneStation

Global food prices have leapt by 10% in the month of July, raising fears of soaring prices for the planet’s poorest, the World Bank has warned.

The bank said that a US heatwave and drought in parts of Eastern Europe were partly to blame for the rising costs.

The price of key grains such as corn, wheat and soybean saw the most dramatic increases, described by the World Bank president as “historic”.

The bank warned countries importing grains will be particularly vulnerable.

From June to July this year, corn and wheat prices each rose by 25% while soybean prices increased by 17%, the World Bank said. Only rice prices decreased – by 4%.

In the United States, the most severe, widespread drought in half a century has wreaked havoc on the corn and soybean crops while in Russia, Ukraine and Kazakhstan, wheat crops have been badly damaged.

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Signs of imminent food crisis lead US farmers to request suspension of ethanol quotas

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Photo credit: CraneStation

The Obama administration was urged on Monday to stop diverting grain to gas amid warnings of an “imminent food crisis” caused by America’s drought.

US government forecasts of a 4% rise in food prices for US consumers because of the drought have sharpened criticism of supports for producing fuel from corn-based ethanol.

Meanwhile, research published last week by the New England Complex Systems Institute warned of an “imminent food crisis” because of the diversion of corn stocks to ethanol.

“Necsi has warned for months that misguided food-to-ethanol conversion programs and rampant commodity speculation have created a food price bubble, leading to an inevitable spike in prices by 2013. Now it appears the “crop shock” will arrive even sooner due to drought, unless measures to curb ethanol production and rein in speculators are adopted immediately,” the researchers warned.

In the latest move, the country’s meat, dairy and poultry producers called on the Environmental Protection Agency to suspend this year’s quotas for corn ethanol production.

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Global food crisis looms as grain prices soar

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What looks to be the worst U.S. drought in a quarter of a century has given rise to an old-fashioned commodity rally on world markets, with key grain prices hitting highs which caused food crises in vulnerable parts of the globe last time around.

Seeking to protect their populations from hunger this time, many countries relying heavily on imports have held off for now, touting healthy stock levels and hoping other sources will come through and bring prices down.

But their hopes may be dashed if they all return to market at once.

With so much of the world putting faith in a record U.S. corn crop, it is little wonder that prices have surged around 40 percent in the past three weeks as relentless dry weather melted yield expectations for cereals. Soybeans are at record highs, while wheat is not far behind.

“Production potential looked great and it kind of lulled these end-users into a false sense of security. At that point we were seriously looking at (corn) prices under $5 if weather conditions remained ideal, but now we’ve rallied sharply higher and never looked back,” Jefferies Bache analyst Shawn McCambridge said.

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Photo credit: Giro555