World: Bread becomes more expensive due to exploding wheat price

Wheat

Bakery & Bread

Published Nov 3, 2021

Tridge summary

Bread is getting more expensive as wheat prices skyrocket worldwide. This is partly due to the difficult cultivation conditions for the crop in important export countries, caused, for example, by drought, frost and heavy rainfall as a result of climate change. According to experts, it does not look like the costs for bread making will fall any time soon. On the futures market in Chicago, wheat prices rose to their highest level in nine years.

Original content

In Paris, a ton of wheat was traded for a record amount of 297 euros earlier in the day. At the start of the trading day, that was still 292 euros and 293 euros at the close. Since September, the price of wheat has risen by about a third, mainly due to the poor harvest in Russia. Wheat is the most widely produced crop in the world and is used in many forms of food. In addition to bread, wheat is also an important raw material for pizza bases, couscous or noodles, for example. Higher bill for consumers Firstly, the price increase means a higher shopping bill for consumers. In addition, the more expensive grain will also affect inflation and wheat will become affordable for fewer people. This in turn leads to more hunger in the world. That risk has been going on for more than a year. Harvests in countries such as Australia and Argentina will not be enough to meet the high demand. In other major grain-producing countries, the crop is not yet ready to harvest. Although the world has a ...

Source: Nu