Wheat: Prices

(asked on 14th March 2022) - View Source

Question to the Department for Environment, Food and Rural Affairs:

To ask the Secretary of State for Environment, Food and Rural Affairs, what estimate his Department has made of the projected wheat price changes for the remainder of 2022 as a result of Russia's invasion of Ukraine.


Answered by
Victoria Prentis Portrait
Victoria Prentis
Attorney General
This question was answered on 21st March 2022

Data published by the Agriculture and Horticulture Development Board show that average ex-farm spot prices for feed and milling wheat have risen 53% since April 2021, and 32% in the weeks from February 17 to March 10, 2022. This is closely matched by near-dated London feed wheat futures prices, which have risen 53% and 34% in the same timeframe.

Price developments for the remainder of the year will depend on how the situation in Ukraine develops, and on the responses of major wheat importers and exporters. The department continues to monitor price movements and volatility, and continues to engage with international partners in the G20 Agricultural Market Information System to facilitate smooth functioning of the global food trade.

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