Canadian Bread Prices Rise With Russian Wheat Woes

A wheat shortage in eastern Europe is starting to push up the price of bread in Canada, analysts say.

Widespread wildfires, combined with the worst drought in decades, have severely reduced grain crops in Russia — the world's third largest wheat exporter.

Last week, the country's prime minister, Vladimir Putin, announced a temporary ban on grain exports, pushing the price of wheat to a two-year high of $8.68 US per bushel.

The drop in supply has already resulted in a 10-per cent rise in the cost of flour, said Bryan Hinton, owner of Lakeview Bakery in southwest Calgary.

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