Wheat prices hit record high after Indian export ban ...Middle East

PARIS: Wheat prices surged to a new record high in European trading on Monday after India decided to ban exports of the commodity as a heatwave hit production.The price jumped to 435 euros ($453) per tonne as the Euronext market opened, up from the previous record of 422 euros reached on Friday.Global wheat prices have soared on supply fears since Russia's February invasion of agricultural powerhouse Ukraine, which previously accounted for 12 percent of global exports.The spike, exacerbated by fertiliser shortages and poor harvests, has fuelled inflation globally and raised fears of famine and social unrest in poorer countries.India, the world's second-largest wheat producer, said on Saturda

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Last updated : 16 May 2022 clock 02:41 PM

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Wheat prices hit record high after Indian export ban ...Middle East

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