Global wheat harvest to bounce back this year

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Global wheat production is set to increase in 2011, providing some welcomed relief for manufacturers currently fighting against spiralling commodities costs.

In a recently published report The United Nations’ Food & Agriculture Organisation said that worldwide production would be up 3.4% on last year’s levels.

As well as producers looking to cash in on the high price of wheat, the increase reflects improved yields for producers who suffered from adverse conditions last year.

One of the world’s largest producers, Russia, last year imposed a ban on exports after widespread drought led to poor returns, threatening their survival.

But the UN have warned that this year’s harvest would still be below the levels recorded in 2008 and 2009.