Flour is likely to rise again in July!
Russia and Ukraine are the world’s leading producers of wheat, with Russia and Ukraine producing 33% of the world’s wheat. The war that broke out between the two countries has seriously affected the supply of wheat, and there is a serious shortage of wheat supply, and flour is already brewing another price increase.
Flour in 2022 has been raised twice, in January when each packet of 25 kilograms of flour rose to RM 25, and the end of March and another price increase, and now rumors will be raised again in July. Wheat stocks have bottomed out in countries around the world and businesses are snapping up wheat.
The increase in the price of flour will lead to an increase in the price of various food products made from flour, including bread, cookies, noodles, kuey teow, etc.
Food in coffee shops and delicatessens may increase again soon, and consumers are urged to be prepared.
In addition, there is news that May may usher in a wave of price increases. The government will implement the RM1500 minimum wage system from May 1, which is generally expected to drive up the domestic department stores.
The war between Russia and Ukraine has been going on for more than 40 days since the end of February, and the spike in raw materials and supply chain disruptions caused by the war are fermenting internationally. International crude oil prices have also been at high levels, which has had a serious impact on the transportation industry, especially air and sea freight. The increase in transportation costs is also starting to be reflected in prices.
