Wheat Prices on the Rise
By: Import User
Updated: February 28, 2008
Expect to pay a little extra for a loaf of bread in coming months. Thats because wheat prices are on the rise. The U.S. is currently the one of the worlds primary exporters of wheat and grain. According to the president of Lewis Bakeries, the U.S doesnt have enough to supply both our high amount of exports and our own countries demand. Jack Lewis says it isnt just wheat. The prices of corn, soybeans and oil are going up as well. This means less disposable income for consumers, and could ultimately hurt the national economy.
Background Facts:
-Flour prices have risen by 50% since the beginning of the year
-Retail food prices at the supermarket increased 8% in the past year
-The cost of a 100 lb. bag of flour for white bread in February,2007 was $12.65. In February 2008 its $43.65.
