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Wheat prices soar worldwide

Tags: wheat, food, Business, News, Russia, World
 
Jul 15, 2010 09:54 Moscow Time
Wheat. Photo: EPA
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The world market is suffering from skyrocketing wheat prices caused by unfavorable weather conditions in Russia, Kazakhstan and Canada.

In the last six months, the price of grain has been edging towards the maximum, following a reduction of crop forecast in the main producing countries.

Severe drought in Russian provinces will irreversibly affect crop yields, which are expected to fall by 14, 18 and 19 percent in Russia, Kazakhstan and Canada respectively, as compared to the last year.

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