The reason for the increase in the price of wheat in the world market

According to the report of Fars News Agency’s International Economic Correspondent, quoting Rashatoudi, many media outlets have announced, quoting brokerages, that in recent days, the price of this food has reached the highest level in the last two months due to concerns about the challenges facing the wheat harvest in Ukraine. Is.

In the Chicago Mercantile Exchange, each bushel of wheat was sold at a price of more than 8 dollars, which is the highest since November 23 last year. Although the price of wheat decreased slightly in last night’s trading, it is still at the highest levels of this year.

The process of increasing wheat prices started on Friday, and the reason for this is the beginning of a new round of Russian attacks on Ukraine and concerns related to its consequences.

Traders in the wheat market have warned that now that Ukraine’s wheat exports have dropped by more than 30% compared to the pre-war period, damage to Ukraine’s infrastructure or the intensification of the war can make the country’s wheat exports even worse.

Mark Polovy, a senior official at the Archer Institute, said: Wheat has been the most affected of the commodities from the military conflict in Ukraine; Because this conflict can lead to a decrease in Ukraine’s wheat exports and its planting for this year, and on the other hand, this tension can lead to the imposition of more sanctions against Russia. Russia itself is one of the biggest producers of wheat in the world market.

end of message/