Global wheat production is set to increase in 2011, providing some relief for manufacturers wrestling with spiralling commodities costs.
The United Nations’ Food & Agriculture Organisation said in a new report that worldwide production would be up 3.4% on last year’s levels.
As well as producers looking to cash in on the high price of wheat, the increase reflects improved yields for producers that suffered last year from adverse conditions.
Last year Russia, one of the world’s largest producers, imposed a ban on exports after widespread drought led to poor returns.
But the UN warned that this year’s harvest would still be below the levels recorded in 2008 and 2009.
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