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Wheat prices up 29% year-over-year

in October

World coffee prices at 13-year high
 

 

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11 Nov 10 - Thanks to volatile commodity price, prices for coffee, wheat, flour and sugar have been rising in recent months, and are expected to continue rising in 2011.

World coffee prices are at a 13-year high, according to Scotiabank. Wheat prices were up 29% year-over-year in October.

Prices are up “tremendously” because of weak wheat crops in Canada and Russia as well as Russia’s export ban that will last well into next year, said Scotiabank commodity expert Patricia Mohr.

To help cushion the impending blow, Tim Hortons - Canada's largest restaurant chain - has bought up enough wheat, flour and coffee to make it through the first half of 2011 and enough sugar for the entire year, said Chief Executive Don Schroeder.

I fear that this is just the beginning.

As I keep on saying, I think we'll be fighting in the streets for food long before we're covered by ice.

http://www.winnipegsun.com/money/2010/11/11/16087516.html#email
Thanks to C. Peter Davis in Winnipeg for this link




 





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