For example, the international price of wheat and maize rose by 25% in June and July 2012 after summer droughts in North America and Eastern Europe, which worried international markets and affected the global outlook for cereals and soya production (World Bank, 2012). On the other hand, gradual shifts in water risks that lead to production changes can result in long term market changes. Liu et al (2014) explored the impacts of irrigation risks on agriculture production and the role of international trade. Their simulations focus on regions that are expected to face irrigation failures, including China, South Asian countries, and the Middle East-North Africa region.