Washington-Sana
International wheat prices recorded a new rise amid reports of India's move to impose restrictions on its exports.
And the US Bloomberg Agency reported that India is considering restricting wheat exports because severe heat waves have damaged local crops, as the South Asian country is experiencing the highest temperatures ever.
According to the agency, senior officials in India are discussing the move and will recommend it to Prime Minister Narendra Modi who will make the final decision.
The agency pointed out that the Chicago wheat futures contracts for July delivery jumped yesterday by 4.2 percent, and today contracts were traded at 10.765 dollars per sixty pounds, the largest increase since the 8th of April this year.
It is noteworthy that global food prices began to rise since the beginning of 2021, as a result of the irresponsible policy pursued by Western central banks during the past years, as they deliberately pumped tens of trillions of unsupported dollars, euros and sterling into Western economies, which fueled inflation.
And the exacerbation of inflation recently with the imposition of Western countries, including the European Union and the United States, unprecedented sanctions on Russia, which is one of the most prominent producers of energy resources and exporters of food in the world.
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