It's not likely to make us feel better to know that we're not alone. Canada and Russia, which also grow this all-important grain, are both reporting poor wheat crops for different reasons. Like the U.S., Canada's wheat growing region is being hit by both drought and heat, while in Russia, farmers are picking up after a particularly bad winter. All this will come together at some stage and trigger price hikes for other wheat-based foods like pasta and breakfast cereal. One wheat industry executive is already making a dire prediction. "Consumers are going to see higher prices, no question about it ... whatever that price is at the time a baker calls, gets translated right then and there into the flour price," King Milling Company's executive vice president James Doyle said (via Bloomberg).
With supply chain problems from transport as well as logistics and labor costs kicked up by the coronavirus pandemic, both public and private sector officials are now on the lookout for inflation, which looks like it could be a problem since prices across the board have risen by about 2.4% on average since the pandemic struck (via Quartz).
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August 25, 2021 at 07:51PM
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Why The Price Of Bread Probably Won't Be Falling Anytime Soon - Mashed
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