A sharp drop in the price of wheat and livestock inputs in the world markets

According to the economic correspondent of Fars news agency, today the price of basic products decreased in the global markets and it is one of the few days that the market has faced a price decrease in recent times. It seems that the market needs to be corrected after the consecutive increases of the past days. and the increase in supply has also affected this price reduction.

Earlier, the United Nations World Food Organization had announced that this year the price index of basic products and food will decrease compared to last year, but in recent days the market has gone against these predictions.

It seems that the increase in supply in the market with the beginning of the harvest season and the decrease in import demand are two factors that have affected the market balance and reduced the price.

According to the Bloomberg report; Only today, the price of wheat for delivery in July has decreased by 3.75 dollars and each bushel of this product was sold for 624 dollars.

The price of corn, which is usually used as animal feed, also recorded a decrease of 1.75 dollars and each bushel of this product was sold for 606 dollars and 25 cents.

According to this report, today the price of oilseeds did not lag behind this price reduction, so that the oilseed of canola decreased by 3.3 dollars.

World prices affect the cost of countries that are mainly importers, countries that are importers have a good opportunity to import when prices decrease because they will pay less currency.

Countries that are importers, their country’s food security is more vulnerable, and with climate change, global warming, and the recent war between Russia and Ukraine, this vulnerability has increased, so after these events, countries take every opportunity to fill their warehouses. They use it so that China has stored half of the world’s exported wheat in its warehouses.

Recently, countries have taken a more serious approach in the production of basic goods and are trying to use the limited water and soil resources of their country instead of producing water products that have a low impact on basic and more effective products in food security.

Therefore, in such a situation that the world is trying to ensure food security with various programs, our country should replace the production of basic products and self-sufficiency in them, such as watermelon, melon, and summer vegetables.

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