Why record wheat prices are a global worry

Drought, conflict and low stocks are creating a perfect storm on global wheat markets.PARIS - Consumed daily by billions of people around the world in bread and other flour-based products, wheat is a basic food staple, making current record prices for the cereal a global concern.

Sebastien Abis, head of the Demeter agricultural think tank in Paris and an expert at the Institute for International and Strategic Relations, explains what's at stake:"It's very difficult. Wheat is the most important cereal for global food security: it is eaten by billions of humans in the form of bread, flour or semolina."Beyond its nutritional qualities, wheat is a very social and democratic product, enabling people to make low-cost food -- and it is often subsidised.

"In recent years, the United States has produced less and less because they are switching to corn and soya . After the Soviet period, the two countries that surged ahead were Ukraine and Russia.- Is the lack of Ukrainian production the reason for the current situation? - "Prices that were already high before the war are now exploding: wheat reached 440 euros a tonne on the Euronext market on Monday.""India had announced a rather ambitious target of exporting 10 million tonnes. It had sold around 3-3.5 million tonnes before it put its export ban in place, so one of the questions is whether it will honour its commitments.

As if we aren't suffering enough

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