Price of bread will increase 5 gapiks

Due to the effects of the COVID-19 pandemic and uncertainties in the world economy, constant pressure on supply chains, rising logistics costs, the price of food wheat continues to rise in the world markets due to the creation of reserves in excess of demand by many countries and various protectionist measures of wheat-producing countries in order to protect the domestic market, it is stated in the joint information of large flour and bread producers, Qazet.az reports.

The joint information reads that due to the political and military conflicts in the countries that are the main producers of food wheat, there are serious price and supply risks in the world markets, as well as restrictions on the global trade of these products. The uncertainties caused by the conflicts, the sharp increase in the logistics costs of food wheat, the export restrictions and the export bans imposed by other producing countries have led to a decrease in the supply in the world market and an increase in prices.

According to the UN Food and Agriculture Organization (FAO), in July 2022, compared to the corresponding month of 2021, the global food price increase is estimated at 13.1%. According to the organization's forecasts, the volume of global production is expected to decrease in 2022.