Global wheat prices soar

In Europe, if wheat farmers are happy, livestock farmers are more difficult than ever because wheat is also fodder for livestock. Higher wheat prices also pushed up prices of staple foods in the European market. According to Le Figaro newspaper, wheat prices have increased continuously since July and by November 25 had reached 308 euros/ton. The reason is that wheat production was so low last season due to drought that forced Middle Eastern countries such as Iran, Turkey and Egypt, which previously had to import 62% of their wheat needs, this year to import more. again. Pakistan and China have also bought huge amounts of wheat to increase their stocks. Meanwhile in the southern hemisphere, Australia and Argentina are preparing to harvest wheat, but there is no guarantee of a harvest due to unusually cold weather and heavy rain just before the time of rice harvest. Since the middle of last year, Russia, the world's largest wheat exporter, has imposed quotas on wheat exports. In ...