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Ukraine War Sparks Wheat Price Hikes, Threatening Bread and Pastry Costs in Israel
Major Israeli flour mills are increasing prices by up to 14% starting in November due to the war in Ukraine driving up global wheat costs. This could lead to higher prices for bread, pastries, and other food products, as well as potentially for chicken, eggs, and dairy if animal feed costs rise.
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What happened
- 01Flour prices in Israel are set to rise by up to 14% in November due to the Ukraine war.
- 02The Ukraine conflict has closed Black Sea ports, forcing Israeli importers to buy more expensive European wheat.
- 03Rising flour costs may lead to increased prices for bread, pastries, and other flour-based foods.
- 04Regulated bread prices in Israel have not been updated in four years, creating challenges for bakeries.
- 05Potential increases in animal feed costs could also raise prices for chicken, eggs, and dairy products.
Bakeries are also seeking to raise regulated bread prices, which haven't been updated in four years, but face political uncertainty.
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