The runaway flour price – caused by the atrocious weather in North American wheat-growing areas in 2021, the Russian invasion of Ukraine and rising fuel costs – is expected to have a long-lasting impact on the bakery industry – meaning bakers need to...
The civil decision wraps four years of litigation, after the US Commodity Futures Trading Commission (CFTC) charged the two CPG companies with noncompetitive trading and inflating wheat futures.
The International Grains Council (IGC) has warned global wheat production is likely to fall to its lowest since the 2013/14 season following exceptional weather across the European Union and Russia.
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.
US wheat futures experienced volatility this week with traders concerned that floods in Australia would hamper transportation of wheat and export commitments would not be met.
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.
Rabobank has predicted that wheat prices are likely to ease but warned that the bakery industry may struggle to pass on higher costs to consumers if prices remain high.
It’s too early to predict the impact of huge rises in wheat prices on European flour products such as bread and biscuits, according to the National Association of British & Irish Millers.
Bakers may expect to pay out more for flour on the back of the rally in global wheat prices this month, following production setbacks in the EU, Russia and Kazakhstan, claim industry commentators.
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...
