Jay Rushin used to look at global wheat prices once a quarter or so. Now he checks them every other day.
The chief executive of H&H Bagels, a New York staple for 50 years, had hoped to reopen its Upper West Side store last summer, but a global semiconductor shortage meant that the toasters he ordered last May were not shipped until February.
By the time the shop opened this week, redesigned as the flagship of a brand that Rushin hopes to franchise, the spot price of wheat — bagels’ crucial ingredient — had soared 35 per cent above last year’s levels in response to Russia’s invasion of Ukraine.
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