Variation in the price of wheat affects the value of French bread in Brazil

Recent variations in the price of wheat on the foreign market have generated fluctuations in the value of the famous French bread, an irreplaceable food for breakfast for Brazilians. Currently, grain prices are influenced by events in Eastern Europe, mainly because Russia and Ukraine are the largest producers of the commodity for the global market. The history of the price of wheat in the country has suffered from fluctuations since the beginning of the conflict in Europe. At the end of 2022, Brazil recorded a reduction in values, after a significant increase of more than 30% in the previous year. This rise had been driven by instability in wheat prices on the international market, mainly after the Russian invasion of Ukraine. According to Fábio Pizzamiglio, director of Efficienza, a company specializing in foreign trade advice, says that grain prices will continue to fluctuate due to pressure from the foreign market, as “after events such as the current closure of agreements in ...