Developing Countries and Crop Failure

crop failures: A major crop failure in top exporting countries like the US, Ukraine, Australia or Brazil will now be felt in every country in the world, according to The Guardian. This could cause civil unrest in some countries or significantly affect our economic and financial systems. It has arguably also increased our exposure to systemic risks. Between mid-2007 and 2008, crop failures caused by drought, low global stocks and the widespread use of export bans led to the price of major crops more than doubling. For developing countries, more exposed to international trade, domestic prices increased dramatically. Related:Why food riots are likely to become the new normal Nafeez Mosaddeq Ahmed For many developed countries, the increase in the grain price in 2007 and 2008 was easily absorbed and had marginal impact on food availability. (news.financializer.com). As reported in the news.