Wheat prices in China have reached a 14-year high, with a 40% increase, while multinational bread prices have risen

Published 2022년 3월 7일

Tridge summary

The article highlights the significant rise in global wheat prices, with Ukraine and Russia being the primary exporters, accounting for about 30% and 20% of the world's wheat and corn exports, respectively. The escalating tensions in Ukraine have led to disruptions in Black Sea trade, further increasing wheat prices by up to 40% since the conflict began. The United Nations World Food Program has cautioned that these supply chain disruptions could threaten the food security of millions of people, especially in the Middle East and North Africa. Additionally, bakers in the United States and Canada are facing pressure to raise prices due to these increased costs, with concerns about the impact on consumers, especially the vulnerable groups.

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

Original content

Ukraine and Russia are the world's main exporters of wheat. As the situation in Ukraine escalates, wheat prices have risen to a new high in nearly 14 years, and consumers around the world have to spend more money on bread. The United Nations World Food Program warns that supplies from Russia and Ukraine Disruption of the chain will jeopardize the food security of millions of people around the world. Ukraine tensions push up wheat prices, threaten food security Reuters data shows that Russia and Ukraine together account for about 30% of global wheat exports and about 20% of corn exports. As the situation in Ukraine tightens, trade at Black Sea ports has been severely disrupted, pushing up the price of wheat and other grains. The price of wheat on the Chicago Board of Trade has risen by as much as 40% since the conflict broke out between Russia and Ukraine on February 24. The United Nations World Food Program warned that the supply chain disruption between Russia and Ukraine will ...

Source: Chinaeconomy