President Felipe Calderon has said the government will clamp down on hoarding and speculation to ease the problem. But some blame the rise on demand for corn to make environmentally-friendly biofuels in the United States.
Wheat prices reach record level
Wheat prices have hit record highs on global commodity markets, bringing the threat of rising bread prices. Bad weather in key grain growing areas such as Canada and parts of Europe has limited supplies as demand has risen, sparking fears of a supply shortfall. Surging prices are also expected to have widespread fallout for consumers. While it will mean higher bread prices, it could also trigger an increase in meat and dairy prices as farmers battle to pass on rising feed costs.
Global wheat stockpiles will slip to their lowest levels in 26 years as a result, official US figures predicted earlier this month.