Get ready, the prices of bread, flour, noodles, and wheat-related foods are set to rise. Australia's wheat crop output is expected to drop 25% due to higher fertilizer prices stemming from the Iran War and unexpectedly dry weather. Malaysia imports 1.025 million metric tons worth RM1.4 billion—that's nearly 60% of the country's wheat needs for making flour, bread, noodles, and more—from Australia, which is our number one source of wheat imports.