Philippines: 3 reasons why Filipinos should care about the global wheat shortage
Wheat
Philippines
Published Jun 28, 2022
Tridge summary
There is a global wheat shortage. The Philippine Association of Flour Millers, Inc. (PAFMI) mainly attributes this to the war between Russia and Ukraine, which collectively supply a third of the global wheat supply. Wheat exports from Ukraine are blocked by the Russian navy in the Black Sea. Meanwhile, a US-led embargo on Russia means the latter country is cut off from trading wheat with the US and its allies. But the Philippines does not import wheat from Russia or Ukraine.
Original content
Instead, the country imports 90% of its wheat from the USA and the rest from Canada and Australia. There is also the matter that the main calorie source for Filipinos is rice, so why should the global wheat shortage matter for Filipinos? In a media forum on June 21, 2022, Ric Pinca, executive director of PAFMI, sat down with Wilson Lee Flores, owner of the oldest bakery in Quezon City, to talk about the implications of the global wheat shortage. Here are three reasons why the common Filipino should care about this issue. “We have enough supply of four in the country, only the prices will change,” Pinca said. Though the country has a sufficient wheat supply, it does not mean the country is unaffected by the rising global price of wheat. With a third of the international wheat supply locked in two countries, the price of wheat has risen for the rest of the world. According to PAFMI, the global supply of wheat is further aggravated by India’s ban on wheat exports, as well as drought ...
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