The FAO has revised downward its forecast for 2010 world wheat production levels and reports that wheat market dynamics drove international food prices up in August by 5 per cent - the biggest month-on-month increase since November 2009.
There’s nothing like a shortage of wheat to send some news media searching for superlatives. Talk of “soaring” wheat prices and “rocketing” bread prices were common, in the British press, after Russia decided to temporarily ban grain exports earlier this...
German flour improvers specialist Muhlenchemie has many years' experience in the fast-growing bakery markets of Africa and the Middle East - but each country and bread-eating culture requires a slightly different approach.
A leading economist says that industry sources and analysts predicting the Russian wheat export ban will have little impact on EU food prices are “naïve”, and overlook the fact that major futures contracts for Russian wheat are now worthless.
Co-ordinated EU-wide action is needed urgently to end food price volatility induced by market speculation, warns the European Flour Milling Association after wheat prices reached a 23-month high yesterday.
The FAO is cautiously optimistic about the prospects of food commodities in the wake of economic upheaval in the past two years, but average prices for wheat and grains, vegetable oils and dairy are likely to be higher over the next decade.
Many American consumers would be receptive to foods containing genetically modified wheat if it is produced sustainably, suggests a new survey examining attitudes to food technologies from the International Food Information Council (IFIC).
Wheat production on a global scale for the 2010-11 global crop has been revised upwards by two million tonnes to 660 million tonnes, according to the May report from the International Grains Council (IGC), which was less upbeat abou the EU harvest.
Cocoa prices have proved resilient in the economic downturn, even as other commodity prices have slumped, and confectionery manufacturers are concerned that tight supply will keep prices high for some time yet.