Bread price in Colombia will remain around $500 as increase in wheat import freight costs is one of the reasons

Published 2023년 5월 14일

Tridge summary

Colombia is experiencing a potential increase in bread prices due to the vast majority of wheat used in the country's production being imported. Factors such as rising freight costs, port congestion, increased fuel prices, and new emissions regulations are contributing to these potential price hikes. These challenges, highlighted during a seminar in Bogotá, are part of a broader issue where key inputs like wheat, flour, and milk are seeing significant price increases. The U.S. Wheat Association emphasizes the need for improved logistics and transportation efficiencies to help mitigate these issues and reduce inflation for consumers.

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

Original content

The price of bread in Colombia could be affected and increase. The reason: 99.4% of the wheat used in the country is imported, which is why it is affected by several factors and logistical challenges anchored in the international market, such as the increase in freight costs, port congestion, the increase in the price of fuel and new regulations to reduce greenhouse gas emissions. This was noticed, in Bogotá, during the Freight and Logistics Seminar, organized by the U.S. Wheat Associates, the US wheat export market development organization. There, Pilar Ortiz, executive director of the Fedemol Chamber (National Federation of Wheat Millers) of Andi, warned that it is necessary to "understand the challenges that the sector faces, especially in logistics issues, is key to being able to help reduce inflation and thus benefit consumers. It is worth noting that according to the latest data from Dane, from April 2023, bread had an annual variation of 25.41%, while some inputs such as ...

Source: Infobae