Cheaper wheat impacts pasta prices
Falling durum wheat prices this year have led to a 10 per cent reduction in pasta prices from Italy’s Barilla so far this year, but the market situation for H2 is still unclear.
In 2008 the cost of wheat soared, causing discontent in Italy over the impact on the national staple.
But in the first half of this year they have dropped back to around €200 a year, permitting a price reduction on the part of the manufacturer.
"It will last until July. In July we will see whether to confirm it, depending on the market situation," CEO Massimo Potenza told a news conference this week, according to Reuters.
Potenza would not be drawn on whether prices could bounce back up again the second half of the year; there are concerns that this year’s crop could be more expensive as smaller areas were sown.
Current durum wheat are still said to be around 25 per cent higher than average prices in 2006.
