Quest Means Business   « Back to Blog Main
August 11, 2010
Posted: 1724 GMT

We're marking the start of a brand new segment on CNN International's Quest Means Business, where you, the reader, will have an opportunity to choose the topics that you want discussed.

Richard Quest will be teaming up with CNN's Ali Velshi to answer your questions on topics as diverse as technology, travel, finance, commodities and even pop culture.

Our first topic will be on an issue that is integral to many of our lives - wheat.

Sixty percent of the world relies on wheat as a staple part of their diet and many more consume it on a daily basis. Since mid-June, the price of wheat has surged more than 50 percent on world commodity markets, fuelled by Russia's decision to ban wheat exports after crops were devastated by drought.

The price surge shows that any variance or trouble spot in a large wheat-producing country - Russia is the world's third biggest wheat exporter - can be felt all over the world.

What drives sharp rises in world grain prices? Why is wheat so important? How does a price rise impact our decision to buy a loaf of bread?

Here's your chance to ask us and have your question answered.

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Popat   August 11th, 2010 6:57 pm ET

Why don't people use the idle land to grow "Wheat" in countries like USA, Africa, Canada, Australia, etc.?

Donald A. Kahoun   August 11th, 2010 9:14 pm ET

If people knew the price of wheat would rise 50% this year they would have planted more wheat. Since, they did not know they did not have confidence that they could sell all they planted at a profit.

Kenneth Bromwich   August 11th, 2010 9:30 pm ET

'They' are prosecuting the dishonest MPs. When are 'They' going to prosecute those Bankers who caused so much havock in the banking system ie; Fred Goodwin, former ceo of the Royal Bank of Scotland, w2ho has since retired with a very large pension of millions, and his cronies who also have jumped the sinking ship with a nice golden handshake. These should have long ago been prosecuted for 'GROSS Corporate Neglect' which has bankrupted millions of people and nearly sent the bank into liquidation.

Jeanette   August 11th, 2010 11:04 pm ET

Idle land?? If only.

triesch   August 12th, 2010 9:07 am ET

Popat
Why don't people use the idle land to grow "Wheat" in countries like USA, Africa, Canada, Australia, etc.?

The answer: the pris is (was) too low.
In recent years the price of wheat was about the same than it was in the 1950ies.

flourgirl   August 12th, 2010 1:24 pm ET

Wheat can only be grown in certain areas of the country. We grow organic wheat and still have lots from last year. The prices for grain dropped while the cost of fuel went up considerably. The middle men are making the money not the farmers.

Modou sanyang   August 12th, 2010 4:39 pm ET

Sugar has been very expensive since last year in sub Saharan Africa and importers are complaining that the major producers of sugar been Brazil has now reduce the number of volume they produce,many are complaining that the product that been are use to produce sugar are now turn to be producing bio fuel with it,I want to know more about this

GrininInYoFace   August 12th, 2010 4:56 pm ET

When will the food riots start? What should I stock up on in my basement?

Elmer   August 12th, 2010 6:34 pm ET

Mayonnaise contains wheat!?

There is traditionally no wheat in (olive) oil, egg yolk or vinegar.

Explanation for the jovial bit please?

2Cents   August 12th, 2010 9:33 pm ET

Raise the price of oil enough and see how much of that wheat gets to market. Oil is the true global commodity, control the oil or oil prices and see what happens.

seba   August 13th, 2010 10:24 am ET

When I was 15, about 25years ago, the price of wheat was higher than today. Is that not crazy? Does anyone know other economic activity where the same thing happens? Here is the crisis

Bradley   August 14th, 2010 1:28 am ET

Your forgot Wiskey partner 😛

Francis Ignatius   August 16th, 2010 3:28 pm ET

Without wheat nobody can survive, I think wheat is the only food eaten daily by all and everyone in this world, God will bless all the people who taught the farmers how to make more and good wheat affordable for all. God bless us, everyone.

William otomewo   August 17th, 2010 9:28 pm ET

Can wheat be grown in the Niger-delta zone of Nigeria?

Gail Duncan   August 19th, 2010 6:45 am ET

Please tell us about our seed situation. Are there any organic seeds left that have not been manipulated? I truly want to know if there is and where are the 'true' seeds out here.

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