Mongolia, among other nations, may see a 35 percent rise in the cost of wheat-based cereal prices during the upcoming year. For the second year cereal, used as a staple in the diets of most countries, will see a large price hike attributed to a demand which is higher than the available world supply and increased costs of transporting the crop to markets.

Mongolia, among other nations, may see a 35 percent rise in the cost of wheat-based cereal prices during the upcoming year.

For the second year cereal, used as a staple in the diets of most countries, will see a large price hike attributed to a demand which is higher than the available world supply and increased costs of transporting the crop to markets.

Cereal, as a percentage of a country’s diet, is estimated at the following percentages per region : Africa, 45%; Asia, 25%; Latin America 31%, Oceania, 25% and Europe 53%.

Among the poorest nations, including Mongolia, health officials believe the cost for cereal will rise this year by a record $33.1 billion.

Also Mongolia, along with other countries, are weighing a variety of measures to counter the enormous price increases in cereal. Included in the actions being considered are lowering import tariffs, raising food subsidies, and banning or imposing duties on basic food exports.

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