0
The FAO Cereal Price Index averaged 136.1 points in April, down 2.4 points (1.7 percent) from March and as much as 33.5 points (19.8 percent) below its value one year ago. A decline in world prices of all major grains outweighed an increase in rice prices month-on-month.
International wheat prices declined by 2.3 percent in April to their lowest level since July 2021, principally driven by large exportable availabilities in the Russian Federation and Australia. Favourable crop conditions in Europe, along with an agreement at the end of April allowing Ukrainian grains to transit through the European Union countries that had imposed import restrictions on grain from Ukraine earlier in the month, also contributed to the overall softer tone in markets.
World maize prices also fell, by 3.2 percent in April, mostly driven by higher seasonal supplies in South America as harvesting continued and favourable prospects point to a record output in Brazil.
Among other coarse grains, world prices of barley and sorghum also declined, by 4.3 percent and 0.3 percent, respectively, reflecting weak global demand and spillover from weakness in international maize and wheat markets.
By contrast, sales to Asian buyers buoyed international rice prices during April. As a result, rice export quotations reversed most of the declines they registered in March 2023.
May 5, 2023/ FAO.
https://www.fao.org/
