COVID-19 drives durum wheat prices up 9%

March 20, 2020

1 mins read

Durum wheat prices have been rising since the beginning of 2020. Prices for durum wheat have picked up not only in Italy but also in Canada (one of the main durum wheat suppliers to Italy). This rise in prices is associated with increased demand for pasta as more consumers aim to stockpiling non-perishable foods over concerns of the spread of coronavirus. As of 11th March, Canadian durum wheat prices were $33.2 Canadian dollars per metric tonnes more (+8.5%) than the beginning of the year.

As durum wheat prices rise, the cost of pasta and other products such as couscous and bulgur are likely to also reflect the bullish trend.

However, the recent shut down of the whole country - in Italy - is likely to curb partly the bullish price trend of durum wheat, as pasta producers are likely to halt production in the short term due to the quarantine in place.

covid-19 commodity market update

alana blog
Alana Barros

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