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Posts Tagged ‘sustainability’

From the New York Times:

Hoping to take advantage of high global food prices that brought many poor nations to the brink of chaos last year, farmers across West Africa are reaping what experts say is one of the best harvests in recent memory.

But after investing and borrowing heavily to expand their production, these farmers also run the risk of being wiped out as global food prices plummet.

The price of unprocessed rice in Senegal has steadily fallen from its peak early last year of more than $30 per 110-pound sack. The drop has not been as drastic as the ones experienced in corn and wheat markets across the world. But the price for rice needs to be at least $20 for farmers here to make a profit, and as the harvest approached late last year, the price was hovering at $22 a sack.

“I am worried,” said Mrs. Diop, a 57-year-old trader and farmer. “I can double my money. Or I can lose everything.”

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