The Federation of Malaysian Grocers has announced that the price of domestic flour would increase starting March 26, and the price of various brands of flour will increase by 7 to 11%. The price of flour has been rising since January of this year, and now the Russian-Ukrainian war is causing a chain reaction that will lead to another increase in the price of flour.
Russia’s wheat supply accounts for 33% of the world’s wheat. Russia has begun to block wheat exports. The sanctions imposed by European and American countries on Russia also directly affect the price of wheat. The global supply of wheat is tight, which in turn has led to a rise in flour prices.
It is understood that the price of a 25kg pack of flour will increase by RM7, while the wholesale price of 10 packs of 1kg bulk flour will increase by RM2.50, which means that the average pack will increase by 25 sen.
Flour is needed to make bread, noodles, kuey teow, rice noodles, biscuits and other foods, so the price increase of 25kg flour will also lead to the increase in the price of these foods.
It is generally expected that there will be a new wave of price hikes in the second half of this year, and consumers are urged to prepare psychologically.
