The wheat price in the European market is soaring due to the Ukraine war

Wheat prices are soaring on European markets due to the war in Ukraine. This is causing Swedish prices to follow suit. A 40% rise so far this year will create significant increases in food prices for retailers and local producers.

The price is made up 3 times a year by averaging the bread index price, so any increases will only be seen in early May. Swedish producers are cutting back on promotions during an otherwise busy retail season. All await the coming months now to understand how this will play out.