The rise in wheat prices leads to an increase in the cost of final products in the world

Fears about a reduction in the supply of wheat by large producers are making final products such as bread and pasta more expensive in importing countries. In addition to the likely supply cuts, export restrictions imposed by countries such as Russia and Belarus are also supporting wheat prices. World wheat stocks are expected to decline in the main exporters - Russia, the United States and Canada - due to weather disasters such as droughts or floods. Due to cuts in forecasts for these countries, the USDA has lowered estimates of world wheat stocks for MG 2020-21 by 16.8 million tons to 1.066 billion tons. In Russia, the largest producer, wheat production is cut 12.5 million tons to 72.5 million tons due to a likely decrease in winter wheat harvest due to frost in February-March, the US Department of Agriculture said. Russian wheat is commonly used for baking. Wheat production in Canada was cut 7.5 million tons to a 10-year low of 24 million tons due to drought in the Prairie ...