Bread and pastries in Israel are expected to become more expensive soon

Bread and pastries in Israel are expected to become more expensive soon, following a rise in the price of flour. In a letter sent by the largest flour mills in the country to their customers, they announced an increase in the price of flour by 12% -10% starting this January. Stiebel Mills also informed customers about a price increase this month.
The letter states, among other things, that "since last July, the date of the new harvest in the world, the prices of grain and wheat grains in particular, have recorded a sharp and sweeping increase of 30%, which is about $ 60 per tonne. Wheat costs 80% of mill expenses Flours.This increase does not allow us to keep the price of flours as they are today.The corona crisis challenges us all and we are aware that some of our customers are fighting a war for survival.For several months we have been absorbing the wheat price gap but in January 2021 unfortunately had to update 10% to 12% ".
World grain prices have soared both because of fears of food shortages and because of China's increased purchases and speculative activity on the commodity exchange.
Rising wheat prices will lead to higher prices for bread, flour, pasta and more. The price of wheat soared last month from 430 cents per bushel (agricultural volume, about 27 kg of wheat) to 515 cents - a record of two years.
According to a recent survey by Komodex, a commodity trading consulting firm, which came out this week regarding the price of goods in the world, wheat is already traded on the commodity exchange at a price of 551 cents per bushel.