Global wheat prices surge, Guyana faces possible price increases

…as global supply tightens

Asian buyers are turning to Australian and Argentine wheat as disruptions to Black Sea exports, drought and rising production costs push global wheat prices higher, raising concerns for countries such as Guyana that depend on imported wheat for flour and other food products. Guyana could face further pressure on food prices as international wheat markets respond to disruptions in major exporting regions, with Asian importers already paying significantly more to secure alternative supplies. The latest developments come as wheat prices have reached their highest levels in about three years, according to reports from international media, amid attacks affecting grain shipments from the Black Sea, unfavourable weather in major producing countries and higher energy and transportation costs. The developments are significant for Guyana since wheat cannot be grown locally on a commercial scale and the country depends on imported wheat for its flour supply.

Asian buyers & alternatives