August 13, Bloomberg News – (International) Italy’s crop damage from drought seen close to 1 billion euros -
Businessweek. Italian farmers have suffered close to $1.23 billion in crop damage from drought, with losses in corn, wine grapes, and sugar beets, farm-industry organization Confagricoltura reported, according to Bloomberg News August 13. Corn losses range from 30 percent to complete destruction for non-irrigated fields, while the damage in soybeans and sugar beets is about 50 percent, the Rome-based agriculture group wrote in a statement August 9. Italy is Europe‘s third-largest corn grower behind France and Romania, and the region‘s largest importer of wheat. The drought has also caused ?considerable? losses in quality and quantity of fodder, sunflowers, tomatoes, summer fruits, grapes, and olives, the group wrote. Some areas face a ?concerning? year for mushrooms and chestnuts, it said. Italy‘s wine harvest has started, and production is forecast to fall 10 percent below the 5-year average because of heat and drought, the farm union Coldiretti said August 8.
Source: http://www.businessweek.com/news/2012-08-13/italy-s-crop-damage-from-drought-seen-close-to-1-billion-euros