Consumers face bread price hikes over wheat supply crisis

CONSUMERS could be hit with a hefty hike in the price of a loaf of bread because world wheat stockpiles are at their lowest level in 25 years, the Irish Bread Bakers’ Association (IBBA) has warned.

Noting that poor harvests in various parts of the world had dramatically increased the cost of raw materials, the IBBA said this would eventually lead to higher prices for Irish consumers.

Prices have surged to 10-year highs after a drought in Australia threatened to cut its harvest in half. Harvests have also been hit in Ukraine, Argentina, and North America.