Stories related to: wheat prices

Farmers worldwide will reap record-breaking harvests of wheat and rice this year, the US projects, and the news is expected to ease some of the worldwide concern about food prices. The USDA says good weather will bring bumper crops that will replenish depleted stocks, Reuters reports. Analysts warned, however, that prices will remain high for some time and that the world's poor will still need food aid. More »

Rice feeds half the world's population, but this year there isn't enough to go around and prices have risen by 50% over the last two weeks alone. Population growth is outpacing production, and stocks are at a 30-year low after droughts decimated harvests in China and Australia. Countries are banning rice exports and punishing hoarders to prevent looming food riots, the Guardian reports. More »

Consumers are getting hit in the breadbasket as tight flour supplies push bakers’ costs higher, reports the Los Angeles Times. Wheat crop failures, the weak US dollar and more farmers growing corn for ethanol instead of grain have more than doubled the price of a 50-pound bag of flour to $27. And it could go to $60 this year. More »

Even cheap foods like pizza and bagels are getting pricey these days over a mix of inflationary pressures, MSNBC reports. Last year's shocking 4% food price hike was driven by more than gas prices, one analyst says: It's diesel that fuels the trucks and trains that transport goods. "It's everything that gets shipped," he said—which makes diesel costs "much scarier" than the cost of gas. More »

Afghanistan is facing a critical food shortage and is appealing to the world to send extra wheat, the BBC reports. "The situation is serious," warned the nation's commerce minister. Afghanistan relies on food imports, and the rising price of grain on world markets is triggering a national hardship. In some places, the price of a loaf of bread has quadrupled. Unrest in Pakistan means wheat shipments from there have also been cut. More »