India makes a decision that puts the Peruvian milling and baking industry in check

Published 2022년 5월 23일

Tridge summary

India's decision to cease wheat exports due to crop damage from heatwaves has led to a 6% increase in wheat prices in the Chicago market, with potential effects on Peru's flour and baking industry. Peru relies heavily on imported wheat, primarily from Argentina, Canada, and the US, and the price of wheat flour has already risen significantly. The government is considering a 'bread bonus' to subsidize the purchase of essential foods for the poor, as the cost of bread and other wheat-based products is expected to rise further. Alicorp, a major importer of wheat in Peru, has seen a decrease in sales for the first quarter of 2022.

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

Original content

(Agraria.pe) A decision made thousands of kilometers from the Peruvian coast is going to have a strong impact on the Peruvian flour and baking industry. Not only the price of bread could rise again, but also the number of bakeries that would go out of business. Until February there were 200 stores closed, but so far this year the figure has risen to 300. And it is that India, the world's second largest producer of wheat and the eighth largest exporter globally, decided to stop its shipments of said product due to the scarce supply due to the extreme heat waves that affect the crop. The announcement had a rapid impact on the international market, and the price of wheat began the week with a 6% increase in the Chicago market due to fears of a shortage in the short term, considering that other important wheat producers, such as Russia and Ukraine, have been at war since last February. India is not an important supplier for Peru, however, the increase in the price of the commodity has ...

Source: Agraria