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The FAO Cereal Price Index averaged 115.2 points in June, down 3.5 points (3.0%) from May and 11.4 points (9.0%) from its June 2023 value. Global export prices of all major cereals decreased month on month.
The decline in wheat prices mostly reflected seasonal pressure from ongoing harvests in the northern hemisphere. Slightly improved production prospects in some major exporting countries, including Kazakhstan and Ukraine, along with the implementation of a temporary import ban by Türkiye also contributed to the softer price tone.
Maize export prices also dropped in June, as harvests in Argentina and Brazil progressed, with production in both countries now expected to be larger than earlier anticipated. In addition, larger-than-previously-expected planted area to maize in the United States of America, along with generally good crop conditions, also contributed to the price decline.
Among other coarse grains, world prices of barley and sorghum also fell in June.
The FAO All Rice Price Index posted a modest monthly decline in June, largely reflecting generally quiet trading activities.
July 5, 2024/ FAO.
https://www.fao.org/
