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Wheat prices rise with tight global supplies

2022-05-16T16:14:35.538Z

New Delhi, SANA- Global wheat prices witnessed a jump today with the scarcity of global supplies against the background of the imposed ban



New Delhi-SANA

Global wheat prices witnessed a jump today, with global supplies tightening against the backdrop of India's ban on its export.

Reuters reported that US and European wheat futures rose about 6 percent, and the Chicago market reached its maximum daily trading value, while prices in Paris approached its highest level ever.

Chicago futures rose 4.3 percent, while prices in Paris rose 4.1 percent.

According to the measurement of the United Nations Food Agency, the rise in the price of wheat this year contributed to an increase in food prices in the world to unprecedented levels.

India is the latest country to use trade restrictions to combat food price inflation at home.

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Source: sena

All business articles on 2022-05-16

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