There are fears that the price of many foods containing flour could rise following a ban by Russia on exports of grain.
The embargo has been imposed because crops have been destroyed by a severe drought and wildfires have spread across the country.
Russia is one of the world’s biggest exporters of grain but one-fifth of the wheat crop has been ruined.
Wildfires have followed the extremely high temperatures. Twenty regions are burning and fires are close to the suburbs of Moscow with many people having been forced to leave their homes.
In a move to preserve the remaining crop stocks for Russia's own needs, the authorities have banned exports of corn.
The Russian shortage has triggered a big rise in the price of grain in Europe and the US.
There are worries that the grain shortage could push up the price of food, as happened two years ago when food price inflation took off.
Goods containing flour such as bread, cakes and biscuits could be hit, as could the price of alcoholic beverages.
However, farmers in Ireland hope that the international cereal demand will increase prices for them, after being paid below the cost of production over the past two years.
Irish Farmers' Association President John Bryan said there should now be a full debate about European food security.
The poor grain prices here for the past two years has resulted in 80,000 acres of land being taken out of cereal production.
