22 Jan '11, 2am

Global shortage of wheat whips up the prices of bread, cakes and other flour-based products sold in Singapore

Global shortage of wheat whips up the prices of bread, cakes and other flour-based products sold in Singapore

Other commodities cost more too Soya beans Soya beans now cost US$880 (S$1,130) a tonne, up from US$600 a year ago. The reason: Tighter supplies as weather anomalies hit major soya-producing countries such as Argentina and the United States. Earlier this month, the US cut crop forecasts for the year, sending prices to their highest in 30 months. Sugar Prices have gone up by 30 per cent in the past year to hit the current $70 for 50kg. The reason: Again, bad weather in major producers. The floods in Australia, for instance, have led to a 25 per cent cut in export forecast.

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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