The UN’s Food and Agriculture Organization has reported a rise in cereal prices from January to February with wheat prices raising the most. However the second highest wheat crop is forecast for 2012, which could bring prices down.
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.
Global concerns amongst bakers over high prices of their goods will not be alleviated overnight, even with the introduction of new support measures for the industry, says the director of trade body, the Bakers Federation.
Huge increases in wheat prices have more than halved annual milling
profits at top UK firm Carr's Milling Industries - yet the company
is confident of getting back on track in 2005 despite warnings that
prices will remain volatile,...
There was a time when a widespread wheat shortage spelt inflation,
and a global shortage meant global inflation. This year, with
stocks at a 30-year low and wheat prices soaring, it is possible
consumers may never even notice. All...