Queensland flood destroys crops such as wheat and cotton

The raging floods washed away crops in Queensland and New South Wales. According to Wayne Newton, a staff member of a farmer’s rights organization, the damaged crops include wheat, chickpeas, Cotton, and sorghum.

It is estimated that Queensland’s crop loss during this season will be between A$300 million ($302 million) and A$400 million ($403 million).

Relevant departments expect the price of vegetables and fruits in Australia to rise by 50% due to the impact of floods. Earlier, due to the impact of international food prices, Australian domestic grain and rice prices have risen sharply. The floods pushed the prices of daily commodities such as rice and sugar in Australia even higher.

The latest data shows that the current basic cost of living for Australian residents has reached a record high, and Sydney's citizens are even the biggest victims of this wave of price increases.

Australian economist Oliver said: “The situation has been very clear, and food prices including bread, fruits and vegetables are facing upward pressure.

This kind of scenario is a bit like a few years ago. A cyclone forced our banana prices to soar. I estimate that the price of some food products may increase by 50%, and others will not be as expensive as that, but price increases are unavoidable. We must know that crops in some areas have been completely submerged, which has a great impact on commodity prices. ”