China's wheat prices soar on supply concerns, Ukraine crisis

BEIJING: China's wheat prices on Thursday topped 3,000 yuan per tonne for the first time this week as the war between two major wheat exporters Russia and Ukraine has fuelled panic in a market already worried over a domestic supply crunch, traders and analysts said.

Wheat prices across several key demand hubs in China, the world's top consumer and producer of the grain, have jumped by more than 100 yuan in the past week, with bids as high as 3,250 yuan per tonne in the south, data from Shanghai Intelligence Consultancy showed.