French finance minister: keeping close eye on rising wheat prices

FILE PHOTO: French Finance Minister Bruno Le Maire attends a news conference at his ministry in Paris
FILE PHOTO: French Finance Minister Bruno Le Maire attends a news conference at his ministry in Paris, France, September 22, 2021. REUTERS/Gonzalo Fuentes

February 23, 2022

PARIS (Reuters) – French Finance Minister Bruno Le Maire told BFM TV and RMC Radio on Wednesday that he was keeping a close eye on rising wheat prices, which could add to inflationary pressures affecting many consumers in France.

The Euronext wheat price surged on Tuesday to close near a four-week peak hit earlier in the day on concerns that Russia’s recognition of breakaway regions in eastern Ukraine would lead to disruption of massive Black Sea grain shipments.

May wheat, the most active contract on the Paris-based Euronext futures market, unofficially closed with a gain of 4.75 euros, or 1.7%, at 283.50 euros ($321.21) a tonne.

(Reporting by Sudip Kar-Gupta; Editing by Alison Williams)

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