Food prices set to rise after Russia bans grain exports

06 August 2010 by
Food prices set to rise after Russia bans grain exports

The price of a range of foods including bread, pasta and even meat look set to rise after wheat prices jumped following news that Russia was banning grain exports for the rest of the year.

Russia has seen a drought wipe off 20% of its normal wheat crop, as it suffers its hottest summer for 130 years when records began. The country is one of the world's largest grain exporters.

Wheat prices surged on the news to £4.95 a bushel - the highest figure for almost two years.

Yesterday Premier Foods](http://www.premierfoods.co.uk/) confirmed it would pass rising prices on to retailers, leading to fears that the shelf price of a loaf of bread could rise by up to 10p.

Despite the rise, prices are still well below their highest level in February 2008 when they stood at £8.52.

Cost of food predicted to rise by 10% for the new year >>

Rising food costs force Compass to revise menus >>

Food price inflation forcing restaurants to hike prices >>

By Neil Gerrard

E-mail your comments to Neil Gerrard here.

If you have something to say on this story or anything else join the debate at Table Talk - Caterer's new networking forum. Go to www.caterersearch.com/tabletalk

Caterersearch.com jobs
Looking for a new job? Find [your next job here](http://www.caterersearch.com/jobs/default.aspx) with Caterersearch.com jobs

[Blogs on Caterersearch.com](http://www.caterersearch.com/blogs) Catch up with more news and gossip on all Caterer's blogs
[Newsletters For the latest hospitality news, sign up for our e-mail newsletters.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking