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Wheat prices skyrocket by 40% amid Russia's invasion of Ukraine

Ukraine is one of the world's breadbasket nations, and war has forced ports to close and disrupted the wheat supply chain.

News 12 Staff

Mar 17, 2022, 10:13 PM

Updated 822 days ago

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It's costing more dough to make dough at businesses across Long Island as the cost of flour is on the rise.
Karl Riesterer Jr., of Riesterer's Bakery in West Hempstead, says it's "really, really frightening" how high prices are rising.
"Right now, we're seeing anywhere from $27 to $30 per bag with no end in sight," Riesterer says.
Flour is the main ingredient in 70% of the business's products.
One of the reasons for the rise in flour prices is Russia's invasion of Ukraine.
Ukraine is one of the world's breadbasket nations, and war has forced ports to close and disrupted the wheat supply chain.
Ukraine's government has also banned the export of wheat to ensure they can feed their own people during the invasion.
The conflict has brought up wheat prices by 40%.
Other local businesses like Phil's Pizzeria in Syosset are also feeling the effects.
Around 80% of the pizzeria's menu has wheat in it, which could eventually mean a rise in prices.
"It's something that we have to pass along," says Anthony Laurino, who works at Phil's Pizzeria in Syosset. "We're here to pay our workers, to make money for ourselves and pay our costs."
Residents say rising costs could stop them from buying some of their favorite bakery items as they are also dealing with the high costs of gas and grocery items.


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