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And we have an agreed kind of profit margin for them on top of their raw material costs and their operating costs. so we know exactly what s going on there. and, you know, we don t have the same access to the profit structures of our branded suppliers, but we do challenge them as hard as we possibly can. ok, so let s start with the raw ingredients. take wheat, for example. before the pandemic, about four years ago, a bushel of wheat was trading on the market at $4.70. that spiked when russia invaded ukraine one year ago. the same amount of wheat went up to almost 13 bucks a bushel. but at the end of march this year, it was sitting at around $7, much less than the peak, but still 47% higher than before the pandemic. it s a similar story with cooking oil. before the pandemic, a pound of soybean oil was trading at around $0.29. after the war began, that shot up to nearly $0.76, ....
Ok, so let s start with the raw ingredients. take wheat, for example. before the pandemic, about four years ago, a bushel of wheat was trading on the market at $4.70. that spiked when russia invaded ukraine one year ago. the same amount of wheat went up to almost 13 bucks a bushel. but at the end of march this year, it was sitting at around $7, much less than the peak, but still 47% higher than before the pandemic. it s a similar story with cooking oil. before the pandemic, a pound of soybean oil was trading at around $0.29. after the war began, that shot up to nearly $0.76, so more than doubled. and now it s settled somewhere in between at around $0.55 a pound. still, 90% more than before the pandemic. much of those costs follow the same pattern as energy prices. ....
Have the same access to the profit structures of our branded suppliers, but we do challenge them as hard as we possibly can. ok, so let s start with the raw ingredients. take wheat, for example. before the pandemic, about four years ago, a bushel of wheat was trading on the market at $4.70. that spiked when russia invaded ukraine one year ago. the same amount of wheat went up to almost 13 bucks a bushel. but at the end of march this year, it was sitting at around $7, much less than the peak, but still 47% higher than before the pandemic. it s a similar story with cooking oil. before the pandemic, a pound of soybean oil was trading at around $0.29. after the war began, that shot up to nearly $0.76, so more than doubled. and now it s settled somewhere in between at around $0.55 a pound. still, 90% more than before the pandemic. much of those costs follow the same ....
What the ingredients are costing our suppliers and we have an agreed kind of profit margin for them on top of their raw material costs and their operating costs. so we know exactly what s going on there. and, you know, we don t have the same access to the profit structures of our branded suppliers, but we do challenge them as hard as we possibly can. ok, so let s start with the raw ingredients. take wheat, for example. before the pandemic, about four years ago, a bushel of wheat was trading on the market at $4.70. that spiked when russia invaded ukraine one year ago. the same amount of wheat went up to almost 13 bucks a bushel. but at the end of march this year, it was sitting at around $7, much less than the peak, but still 47% higher than before the pandemic. it s a similar story with cooking oil. before the pandemic, a pound of soybean oil was trading at around $0.29. after the war began, that shot up to nearly $0.76, ....