Aug
24
24/08/2010
Rampant wildfires and drought have devastated Russia’s wheat harvest, causing the prime minister to make the unprecedented move of placing a ban on the exportation of wheat. Because Russia is one of the largest producers of the world’s supply of wheat, this move will cause a total of about 25% of the world’s wheat exports to be missing from the global market. This could mean an increase in the cost of bread in Britain and may also lead to an increase in the cost of beef, chicken and pork, since wheat is used in animal feed.
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