UK food retailers and manufacturers are set to bear the brunt of a rise in global wheat prices following poor yields in Russia and Pakistan.
Following the worst Russian droughts for 50 years and the recent floods in Pakistan, the US government has slashed world wheat crop estimates.The US Agriculture Department (USDA) reduced its forecast for the world wheat harvest by 2.3% on Thursday to 645.73 million tonnes in its August report, below the 650.02 million tonnes traders expected. In…
This content is for subscribers only. Subscribe now for free to read the full article.
Already a subscriber? Login
