World wheat prices fall by 10% returning to early April values

World wheat prices fall by 10% returning to early April values

World grain prices are falling, returning to the same levels as 2 months ago after the green light from Russian President Putin to use the occupied ports for exports and for Ukrainian products.

At the weekly closing of the Chicago Board of Trade, wheat was quoted at $ 10.4 per buhel (27.2 kilograms), with a 10% discount over three days returning to early April values.

Declining are also the prices of corn destined for animal feed, which falls to $ 7.27 per buhel due to the fall of 6.4% in 3 days.

The departure of ships from the Black Sea ports means the emptying of the Ukrainian warehouse, which estimates the presence of over 20 million tons of cereals including wheat, barley and corn destined for export, both in rich countries and in poorer countries, where the blockade risks causing unrest and famine.

Will the price reduction be reflected in Albania?

A large part of the bakeries applied in the first months of this year an increase in the price of the product by 10 ALL. One of the reasons that led to this increase, according to representatives of these businesses, has been the increase in the price of flour.

Statistics show that for the past year, the main markets from which wheat was imported were Russia and Serbia. Imports from these two countries accounted for about 82% of total wheat imports in Albania. In third place ranks Ukraine, with about 6% of the total, while other markets have a small share in the structure of wheat imports.

According to statistics, Albania imported last year about 245 thousand tons of wheat, while domestic production reached 233 thousand tons, in total about 478 thousand tons.