Traders and economists are divided on the impact on India of the surge in global wheat prices
The world grain markets are in a tizzy. The decision of Russia to ban export of wheat has caused the prices of this grain to soar 60 percent above normal levels. By mid-August, wheat prices had already reached $7.13 a bushel, or $264 a tonne. These prices could climb further as the extent of the flood disaster in Pakistan and China begins to seep in. Pakistan’s wheat bowl in Punjab has been totally devastated by the floods. And some of China’s farmlands too have got inundated.
Infographic: Hemal Sheth(This story appears in the 10 September, 2010 issue of Forbes India. To visit our Archives, click here.)