Sir; Wheat prices have indeed stopped rising in recent weeks, but they are not in sharp decline (The Grocer, 20 January, p26).
According to independently collected HGCA data, the benchmark price for bread wheat delivered to Liverpool was £113.50/tonne on 17 January compared with £114.00 on 20 October - in either case, £30 per tonne up on last year.
No miller is going to risk running out of wheat by not taking forward cover.
Therefore, the evidence is plain - millers' flour costs will be up substantially year-on-year.
According to independently collected HGCA data, the benchmark price for bread wheat delivered to Liverpool was £113.50/tonne on 17 January compared with £114.00 on 20 October - in either case, £30 per tonne up on last year.
No miller is going to risk running out of wheat by not taking forward cover.
Therefore, the evidence is plain - millers' flour costs will be up substantially year-on-year.
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