|Wheat and corn prices soared more than 19% last month as war + sanctions crush supply from the key Black Sea “breadbasket” region. Food staples are running low as Russia bombs Ukrainian wheat fields and critical shipping ports remain closed.|
Corn Flakes price hikes… are just one ripple effect from a major crisis. Americans notice food inflation in the form of pricier General Mills Cheerios or Kellogg’s Pop-Tarts.
The pandemic gave us shortages and sticky inflation. Now Russia’s war on Ukraine — plus Covid lockdowns in China’s farming provinces — are making a bad situation worse. From fertilizing manure to diesel, the inputs that power the world’s agriculture industry are in short supply. These shortages are causing food prices to surge at their fastest pace ever: a record 13% jump last month.
Wheat and corn prices soared more than 19% last month as war + sanctions crush supply from the key Black Sea “breadbasket” region.
Ginsberg’s Expo May 11, 2022
Food Shows are back. Don't miss Ginsberg's Food Show on June 6 in Albany!
Did You Know? Russia is the world’s largest wheat exporter, while Ukraine accounts for a quarter of all grains trade and is the #1 exporter of sunflower oil. April 11, 2022
The Russian War on Ukraine is driving wheat and grain prices up.
Lower Wing Prices March 11, 2022
Rising cold storage supplies of U.S. chicken wings contributed to lower wholesale prices at end of 2021
Vax or Mask mandate lifted February 10, 2022
Mask or Vax rule lifted for restaurants in NY, but not NYC.
Min. Wage Increase December 22, 2021
NY State Minimum Wage is increasing on Dec. 31, 2021.