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Wheat field in Bavaria (symbol image): Numerous raw materials are more expensive
Photo: Armin Weigel/ picture alliance/dpa
The wheat price has reached a new record high in the wake of the Ukraine war.
The European future rose by almost ten percent to EUR 418.75 per ton.
Wheat from the USA rose by four percent and, at $13.40 a bushel, is also more expensive than ever.
"The demand for wheat for immediate delivery is unprecedented," write the experts at the consulting firm Agritel.
Because of the Ukraine war, customers would have to cope with the loss of deliveries from the Black Sea region.
Numerous raw materials exported from Russia and Ukraine had already become much more expensive in the past few weeks.
The countries are among the most important producers of wheat worldwide.
According to figures from the ministry, Russia is responsible for 10 percent and Ukraine for another 4 percent of global wheat exports.
The EU and Germany produce 100 percent of their needs themselves, so they are not dependent on imports.
"The supply within the EU is not at risk," said Federal Minister of Agriculture Cem Özdemir (Greens) on Wednesday.
Grain shortages in Africa
For countries in Africa, North Africa and West Asia, wheat imports are significantly more important.
Egypt – the most populous country in the Arab world with more than 100 million people – imports much of its wheat from Russia and Ukraine.
The same applies to Tunisia.
Poor people in particular there are in dire need of bread.
Experts in Tunisia are already warning of sharp price increases due to the war.
In the future, grain could come from Argentina or Romania, for example – but it is unclear whether that will be enough.
Other countries in West Asia are facing similar problems.
hey/Reuters
