sharon sanders
Editor-in-Chief & President
Global wheat prices have risen sharply, hitting a 14-year high! How much has domestic wheat risen?
2022-03-07 15:57:10
International wheat prices soar!
Ukraine and Russia are major exporters of global wheat. As the situation in Ukraine escalated, wheat prices rose to a nearly 14-year high, forcing consumers around the world to spend more on bread. The United Nations World Food Program has warned that the disruption of supply chains in Russia and Ukraine will jeopardize the food security of millions of people around the world.
According to Reuters data, 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 prices of grains such as wheat. Wheat prices on the Chicago Board of Trade have risen as much as 40% since the conflict broke out between Russia and Ukraine on February 24. The United Nations World Food Program has warned that the disruption of supply chains in Russia and Ukraine will endanger the food security of millions of people around the world. Among them, some countries in the Middle East and North Africa that rely heavily on exports from Russia and Ukraine are particularly vulnerable.
Even in the United States and Canada, the big wheat-growing countries as far away as North America, the surge in wheat prices has put bakery owners and flour manufacturers "under a lot of pressure." In response to dwindling flour inventories and rising costs, many bakery owners have had to hike bread prices, passing on the increased costs to consumers. Rob McKay, president of the American Baked Food Industry Association, said that in the short to medium term, the price of baked goods and grains in the United States will continue to rise. The most vulnerable groups in society will be hit the hardest.
Known as the "granary of Europe", Ukraine is a major exporter of corn and wheat. According to industry estimates, Ukraine previously exported five or six million tons of grains per month. Russia is also the world's largest exporter of wheat, and in 2021, Russia's wheat production will be about 76 million tons.
Domestic wheat prices rose!
The price monitoring of the Development and Reform Bureau of Junan County, Shandong Province shows that the price of wheat in the county has risen rapidly recently, and the price of flour has also risen at the same time. On March 4, the price of the county's local "Jade Emperor" brand special powder (25kg) rose from 87 yuan per bag to 97 yuan, an increase of 11.49%.
The rising effect of flour prices has been transmitted to livelihood foods such as steamed buns, pancakes, and dried noodles. According to monitoring, the price of a bag of pancakes has risen from 12 yuan to 13 yuan at a food sales point in the county’s Binhai Road farmers market, and the price of a bag of steamed buns has increased from 18 yuan. Yuan rose to 20 yuan. The prices of noodles have also risen accordingly.
According to Zhang, the director of the flour factory of Shandong Yuhuang Cereals, Oils and Foodstuffs Co., Ltd., the purchase price of wheat in the factory has risen rapidly recently, from 1.43 yuan per catty in mid-February to about 1.60 yuan per catty now, and the price of wheat is constantly sprinting. A new high point has not been seen in recent years. Due to the sharp rise in raw material costs, flour mills had to raise the ex-factory price of flour.
Since late February, the purchase price of wheat has risen significantly, and the international market environment has had a serious impact on my country's wheat imports, which is the main reason for the rapid rise in the current wheat market price.
Domestic farmers usually have the mentality of "selling down and not selling up". Since late February, the price of wheat has continued to rise, and farmers' reluctance to sell has continued to increase. With the reduction of grain sources in the market, flour enterprises have to significantly adjust the price of grain harvested. Source: China Development Network
zhttps://www.163.com/dy/article/H1SAG2LR0514DRUM.html
2022-03-07 15:57:10
International wheat prices soar!
Ukraine and Russia are major exporters of global wheat. As the situation in Ukraine escalated, wheat prices rose to a nearly 14-year high, forcing consumers around the world to spend more on bread. The United Nations World Food Program has warned that the disruption of supply chains in Russia and Ukraine will jeopardize the food security of millions of people around the world.
According to Reuters data, 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 prices of grains such as wheat. Wheat prices on the Chicago Board of Trade have risen as much as 40% since the conflict broke out between Russia and Ukraine on February 24. The United Nations World Food Program has warned that the disruption of supply chains in Russia and Ukraine will endanger the food security of millions of people around the world. Among them, some countries in the Middle East and North Africa that rely heavily on exports from Russia and Ukraine are particularly vulnerable.
Even in the United States and Canada, the big wheat-growing countries as far away as North America, the surge in wheat prices has put bakery owners and flour manufacturers "under a lot of pressure." In response to dwindling flour inventories and rising costs, many bakery owners have had to hike bread prices, passing on the increased costs to consumers. Rob McKay, president of the American Baked Food Industry Association, said that in the short to medium term, the price of baked goods and grains in the United States will continue to rise. The most vulnerable groups in society will be hit the hardest.
Known as the "granary of Europe", Ukraine is a major exporter of corn and wheat. According to industry estimates, Ukraine previously exported five or six million tons of grains per month. Russia is also the world's largest exporter of wheat, and in 2021, Russia's wheat production will be about 76 million tons.
Domestic wheat prices rose!
The price monitoring of the Development and Reform Bureau of Junan County, Shandong Province shows that the price of wheat in the county has risen rapidly recently, and the price of flour has also risen at the same time. On March 4, the price of the county's local "Jade Emperor" brand special powder (25kg) rose from 87 yuan per bag to 97 yuan, an increase of 11.49%.
The rising effect of flour prices has been transmitted to livelihood foods such as steamed buns, pancakes, and dried noodles. According to monitoring, the price of a bag of pancakes has risen from 12 yuan to 13 yuan at a food sales point in the county’s Binhai Road farmers market, and the price of a bag of steamed buns has increased from 18 yuan. Yuan rose to 20 yuan. The prices of noodles have also risen accordingly.
According to Zhang, the director of the flour factory of Shandong Yuhuang Cereals, Oils and Foodstuffs Co., Ltd., the purchase price of wheat in the factory has risen rapidly recently, from 1.43 yuan per catty in mid-February to about 1.60 yuan per catty now, and the price of wheat is constantly sprinting. A new high point has not been seen in recent years. Due to the sharp rise in raw material costs, flour mills had to raise the ex-factory price of flour.
Since late February, the purchase price of wheat has risen significantly, and the international market environment has had a serious impact on my country's wheat imports, which is the main reason for the rapid rise in the current wheat market price.
Domestic farmers usually have the mentality of "selling down and not selling up". Since late February, the price of wheat has continued to rise, and farmers' reluctance to sell has continued to increase. With the reduction of grain sources in the market, flour enterprises have to significantly adjust the price of grain harvested. Source: China Development Network
zhttps://www.163.com/dy/article/H1SAG2LR0514DRUM.html