Flour Prices to Rise 14% in Israel Starting November
Translated & summarized from i24NEWS by baba
Flour prices in Israel will increase by 14% starting in November due to disruptions caused by the Russia-Ukraine war. One of Israel's largest milling groups informed clients that shipping cancellations and increased grain costs necessitate the price hike. The company cited a $80-90 per ton increase in wheat acquisition costs.
The story in 5 lines · by baba
- Flour prices in Israel will rise by 14% starting in November.
- The price increase is attributed to the Russia-Ukraine war's impact on grain supply.
- Mifratz Mills Group cited canceled ship contracts and higher wheat acquisition costs.
- The cost of wheat has risen by $80-90 per ton, impacting milling companies.
- The announcement was made by Dana Yarkazi and reported by i24NEWS.
Flour prices in Israel are set to increase by 14% beginning in November, according to a report by Dana Yarkazi. The announcement comes from "Mifratz Mills Group," one of the two largest milling groups in the country, which informed its clients that the price hike is a direct consequence of the escalating war between Russia and Ukraine.
In a letter sent to bakeries, food companies, and marketing chains, obtained by i24NEWS, the company explained that significant disruptions in grain supply and shipping have impacted wheat availability. Specifically, four ships scheduled to arrive in Israel in the past two months canceled their cargo and contracts. These disruptions have led to a new surge in grain and wheat prices on the market.
"The situation has led to a new rise in the grain market and wheat prices, and we are currently forced to purchase wheat at a cost that is $80-90 higher per ton," the letter stated, explaining the necessity of the price increase for consumers.
