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S'pore food manufacturers, importers feel the heat of rising prices of ingredients exported by Russia, Ukraine
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Rising natural gas prices have pushed up electricity costs for Jackson Bakery & Confectionery, which supplies freshly baked bread to food and beverage businesses.
PHOTO: JACKSON BAKERY & CONFECTIONERY
SINGAPORE - Food importers and manufacturers here are increasingly concerned as the conflict between Russia and Ukraine continues to put pressure on the prices of wheat, corn and oilseeds, with some firms starting to feel the effects of supply disruptions and higher prices.
Russia and Ukraine are key players in the market for grains and oilseeds, which are the raw ingredients for flours and cooking oils. The flours, in turn, are used in many foods, from noodles to bread.
