Soaring wheat prices lead to rising bread costs

According to a report by the Philippine Business Mirror on November 3, wheat prices in the United States and Russia have soared recently, wheat prices in Europe hit a record high, and the benchmark Chicago wheat futures price rose to a nearly nine-year high
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Global bread costs have also risen as a result, and there is no sign of relief in the short term
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The analysis believes that the main reasons for the increase in wheat prices include: First, the main wheat exporting countries this year are affected by drought, frost and heavy rain, and the stocks of the top seven wheat exporting countries are expected to drop to the lowest point in eight years; second, the largest in the previous season The shipping country, Russia, began to impose export tariffs this year to ensure supply and control domestic costs, and hinted that there may be overseas sales quotas; third, import demand continues to increase; fourth, fertilizers are more expensive
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