Wheat is a form of grass extensively grown for its seed and cereal grain consumed globally as a staple food. Several species of wheat together form the genus Triticum; the most cultivated wheat is common wheat. The land used for the cultivation of wheat is more as compared to other food crops. Also, wheat is the most traded crop globally compared to all the other crops combined. It is an essential source of carbohydrates and is the main source of vegetable proteins in human food, with 13 percent of protein content which is reasonably high in comparison to other primary cereals; however, it has less protein quality to supply essential amino acids.
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Globally, China is the largest wheat-producing country, followed by India being the second largest wheat producer. Russia is the third biggest wheat-producing country and is also the major exporter of wheat across the world. The United States, France, and Canada are some of the other main wheat-producing countries.
Key Details About the Wheat Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Wheat price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Wheat Price trend, including India Wheat price, USA Wheat price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Wheat Price Trend:
The primary application of wheat includes food, feed, and biofuel, among others. Wheat is grown extensively for its seed and cereal grain, which is a staple food product across the globe. Wheat grain is crushed to make flour which is used in making commodities such as bread, pasta, and pastry. In addition, wheat is also utilised as a feed for livestock. Prospects to integrate sprouted wheat into animal feed have been explored recently, which has increased the opportunities for the expansion of the wheat market. The growing consumption of wheat as an essential part of human food and as livestock feed has led to an increased wheat consumption worldwide, specifically in the Asia Pacific region. Moreover, wheat starch is used for various industrial uses, which is expected to propel the demand for wheat further.
- Cargill, Incorporated
- The Archer Daniels Midland Company
- Buhler Group, CHS Inc.
- Star of the West Milling Co.
- Siemer Milling Company
News & Recent Development:
- October 2022: A wheat technology, biological nitrification inhibition (BNI), has been introduced in India. This new technology will support the creation of nitrogen-competent wheat production techniques in the Indo-Gangetic region of India.
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Reference Link – https://researz.com/wheat-price-forecast/