The CIUS is calling for the European Commission to act now to keep sugar supplies within the EU market rather than export the sweetener, with it claiming that EU based confectioners and other food and drink manufacturers are facing sugar supply difficulties.
The leading traders of physical raw sugar claim that the commodity is likely to surge to a 30-year high in the coming months, with all eyes on the pending Indian sugar crop output which is hoped will ease supply pressures.
Concern around stock levels of commodities such as sugar, wheat and corn, is claimed by ingredients group Jungbunzlauer as the rationale behind its 10 per cent hike in the price of its xanthan gum, erythritol and citric acid products.
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.