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This month’s increase reflected a surge in world prices of wheat and coarse grains, largely driven by conflict-related export disruptions from Ukraine and, to a lesser extent, the Russian Federation.
The expected loss of exports from the Black Sea region exacerbated the already tight global availability of wheat. With concerns over crop conditions in the United States also adding support, world wheat prices rose sharply in March, soaring by 19.7%.
After climbing upwards by 20.4% in March, international coarse grain prices marked a record high, with maize, barley, and sorghum prices all reaching their respective highest levels on record since 1990. Significantly reduced maize export expectations for Ukraine, a major exporter, on top of elevated energy and input costs, underpinned a 19.1% increase in world maize prices month-on-month. Strength in maize markets influenced other coarse grains, with sorghum prices increasing by 17.3%, while supply uncertainties added further pressure on already tight barley markets, pushing barley prices up 27.1% from February.
April 8, 2022/ FAO.
https://www.fao.org
