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The FAO Cereal Price Index averaged 110.1 points in August, down 0.6 points (0.5%) from July and 14.9 points (11.9%) from its August 2023 value.
Global wheat export prices fell month-on-month, reflecting a sluggish international demand and strong competition among exporters, especially from competitively priced Black Sea supplies. Higher-than-previously-expected wheat production in Argentina and the United States of America also contributed to the softer price tone.
By contrast, world maize prices firmed slightly, mostly underpinned by concerns over the impact of heatwaves on yields in the European Union and parts of the United States of America. Tighter domestic supplies in Ukraine, with a downward revision to the country’s production forecast, also provided support.
Among other coarse grains, world prices of barley fell while those of sorghum increased.
The FAO All Rice Price Index increased by 0.6% in August, as the quotations for non-Indica rice increased somewhat under the influence of seasonal tightness and currency appreciations of some exporting countries against the United States dollar.
September 6, 2024/ FAO.
https://www.fao.org
