Geopolitical tensions in the Middle East increase cereal prices

Published 2024년 10월 2일

Tridge summary

Geopolitical tensions in the Middle East have driven up oil prices, impacting raw materials like cereals, with wheat production threatened by drought-related delays in Russia. Dairy contracts have seen slight price increases due to seasonal factors, while Canela beans are cheaper this season. The ongoing beef shortage is exacerbating supply issues and driving up prices, as fattening farms struggle to source live cattle.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Geopolitical tensions in recent days in the Middle East have not only significantly increased the price of oil but have also dragged down all raw materials and consequently cereals, which have seen their price increase on international markets. In addition, in the case of wheat, there has been a delay in sowing in Russia (the main exporter worldwide), due to the drought, which could lead to a significant decrease in production if this work is not done in time, with the onset of winter. Dairy contracts for cattle have been signed for the next three months, with a slight rise in prices due to seasonality. In the bean sector, the Canela variety has started to be quoted on the León Market at 1.50 euros per kilo, a lower price than last season, which was 1.65 ...

Source: InfoAgro