Friday, April 18, 2008

Prices of wheat are soaring!

The prices of wheat has soared up drastically. Wheat is used to make staple foods such as bread, pasta, pizza, noodles, etc... If the prices of wheat, the prices of food will also increase. How are the lower-income people buy these wheat-based products if it is going to be so expensive???

There are so many factors of the price increase of wheat. Drought, land for biofuel, growing demand of wheat, etc.

World wheat stocks are expected to hit a 30-year low this year, partly because of the worst drought in Australia in 100 years, which halved the winter wheat crop into 12 million tonnes in 2007. Ukraine also reduced the wheat production because of unsually cold wheather.

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