These are the five countries of origin of Indonesia's wheat imports; Ukraine was once the largest

Published 2023년 7월 25일

Tridge summary

The price of wheat has been fluctuating due to tensions between Russia and Ukraine, as well as weather conditions affecting agriculture. This has led to changes in wheat prices globally, including in Indonesia, which heavily relies on imported wheat for wheat flour production. Indonesia's wheat imports are predicted to fall in the near future but rebound as the country's economy improves and population growth drives increased consumption of wheat-based foods.

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

Original content

Jakarta, CNBC Indonesia - International wheat prices continued to move up after Russia's decision to no longer extend the Black Sea Grain Initiatives (Black Sea Grain Initiatives). President Vladimir Putin's decision as of Monday (17/7/2023) was then followed by a Russian bomb attack that hit the grain terminal in the port of Odesa. The high fluctuations in wheat prices were triggered by the escalation of tensions between Russia and Ukraine, coupled with weather conditions that had an impact on agriculture. Tradingeconomics noted that the price of wheat today, Tuesday (25/7/2023), was moving at the level of US$7.61 per bushel (a bushel, 1 bushel of wheat = 27.2 kg). Even though on May 30, 2023, it had touched its lowest level this year, at US$55.91 per bushel. And dropped to US$6.32 per bushel on July 12, 2023, before surging to US$7.51 per bushel on June 22, 2023. Then will it have an impact on Indonesia? As is known, wheat is the main raw material for wheat flour. The Food ...

Source: Cnbcindonesia