The prices of durum wheat, one of the raw materials of pasta, are slowing down. Prices fell by 25% compared to a year ago and by 1% in the third week of October over the previous month, registering 383 euros per tonne.
This is what emerges from an analysis by the Italian Telematic Commodity Exchange (BMTI) on data from the National Chambers of Commerce and Commodity Exchanges, carried out on the occasion of World Pasta Day, which is celebrated on 25 October.
After the increases recorded in July, at the beginning of the marketing year, linked to the quality problems of the harvest caused by the rains between May and mid-June, the market for raw materials (durum wheat) and semi-finished products (semolina) used to produce pasta showed a phase of weakness. The declines in raw materials also led to a reduction, albeit slight, for semolina which, in the third week of October, fell by 1% on the month and 21.7% on the year. In addition to the problems of crop quality, the year was also marked by the contraction of production in Canada (-29.9% according to the October estimates of the InternationalGrains Council); the fall in the prices of various durum wheat mainly due to the arrival in Italy of foreign wheat, especially from Turkey, a country that this year can count on large volumes to be exported favored by competitive prices, also due to the devaluation of the Turkish lira.
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