World: Bread becomes more expensive due to exploding wheat price

Published 2021년 11월 2일

Tridge summary

Wheat prices are reaching a nine-year high worldwide due to adverse climate conditions and a poor harvest in key export countries like Russia, leading to an increase in the cost of bread and other wheat-based foods. The price rise is expected to continue, making food more expensive and potentially leading to higher inflation and more hunger. The situation is worsened by small harvests in other grain-producing countries and the fact that much wheat is stored in countries like China that seldom export. Russia, the largest wheat exporter, has started taxing exports to control domestic costs and secure supplies, further driving up prices.

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

Original content

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. 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 ...

Source: Nu