Global Markets: Massive locust swarms threaten African countries

By MarketsFarm

WINNIPEG, Feb. 10 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– A vast plague of locusts has caused extensive damage to crops in several African countries. The United Nations Food and Agriculture Organization (FAO) reported the swarms have destroyed coffee, rice, corn and other crops in Uganda, Ethiopia, Somalia, Kenya, among other countries throughout eastern Africa. Uganda began spraying operations on Monday in an attempt to curtail the swarms that can reach up to 1,000 square miles, according to the FAO. The agency said there likely will be widespread food shortages in throughout the region.

– The tanker cars that derailed near Guernsey, Sask. are reported as being the more puncture-resistant type, according to the CBC. A Canadian Pacific spokesperson said the cars were the newer TC-117J type that meets all Transport Canada standards. More than 30 cars went off the tracks on Feb. 6, resulting in a blaze that produced vast amounts of black smoke that forced the evacuation of the nearby village. It took firefighter over 36 hours to extinguish the fire.

– As the death toll from the coronavirus passed 900 on Monday, reports said a Canadian aboard a quarantined cruise ship in Yokohama, Japan was diagnosed with the illness. The number of people with coronavirus on the Diamond Princess varies from 60 to 70. There are more than 3,700 passengers and crew on the cruise ship. In excess of 40,000 people world-wide have contracted coronavirus, exceeding that of the SARS outbreak in 2002-03, but pales against the number of deaths from influenza.

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