Wheat farmers across the UK are currently enjoying higher profits as commodity prices continue to rise.
Lincolnshire-based farmers have seen wheat prices rise by around £60 a tonne over the past three months, reports thisisscunthorpe.co.uk.
Jonathan Lane, trading manager at Hemswell-based wheat merchant Gleadell Agriculture, claimed the ban on wheat exports in Russia led to a surge in demand from North African countries for wheat.
He told the news provider: "They are able to make much bigger margins for growing crops, which is really good news for our local economy.
"We haven't had the most ideal harvest because of the stop-start weather – more rain than shine – but farmers have got decent yields, which they are now selling at considerably higher prices."
Mr Lane added that prices are unlikely to remain at their current levels for much longer as farmers boost their production which will increase supply and reduce its value.
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