Seven million tons of wheat are missing from the world market

The world market price of wheat rose from 510 dollarcents per bushel of early June by 17 percent to 597.25 dollarcents per bushel in August – Világgazdaság Online wrote.

Since then, the course has returned to around 540 dollarcents, but still 25 percent more expensive than a year ago.

The dramatic rise in prices is due to the extreme droughts in Europe. According to a global survey a few weeks ago, 7.1 million tonnes of wheat were missing from the world market. (Beck András, vg.hu)