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Global wheat prices hit record high
Link: https://www.rt.com/business/555578-global-wheat-prices-record-high/
Wheat prices surged to a new record high on Monday after India decided to prohibit exports of the commodity as a heatwave hit production. The price climbed to €435 ($453) per ton as the European market opened. Soft red winter wheat for July delivery rose 4.2%. New Delhi said this weekend it was curbing exports as the country, the world’s second-largest wheat producer, saw its hottest March on record. Authorities expressed worries about food security of the nation’s own 1.4 billion people amid lower production and sharply higher global prices. Export deals agreed before the directive issued on May 13 could still be honored but future shipments will need government approval, New Delhi said.
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