Global Wheat Buyers Wrong-Footed By Sharp Rally In Prices

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1. >Wheat buyers in Asia, Africa and the Middle East, which account for two-thirds of global imports of the staple, have been caught out with relatively little supply after adverse weather in Russia and Europe **unexpectedly sent prices surging 30% since April.**

   There is that word, unexpectedly, again.

   It was previously reported that olive oil prices have gone up by 49%

   https://www.theportugalnews.com/news/2024-05-22/olive-oil-price-up-by-49/89044

   Cocoa prices are up by over 75%

   https://uk.finance.yahoo.com/news/chocolate-getting-more-expensive-global-090548037.html

   Orange juice up by 120%

   https://www.thegrocer.co.uk/drinks/orange-juice-prices-hit-record-highs-amid-supply-constraints/690885.article