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FAO cereal price index up in April

Average global wheat export prices stabilized in April. Maize and barley prices increased while sorghum and rice prices declined.

The FAO Cereal Price Index averaged 111.2 points in April, up 0.3 points (0.3%) from March but 25 points (18.3%) below its April 2023 value.

After declining for three consecutive months, average global wheat export prices stabilized in April. Upward price pressure stemming from concerns about unfavourable crop conditions impacting 2024 harvests in parts of the European Union, the Russian Federation and the United States of America was countered by continuing strong competition among major exporters.

By contrast, maize export prices increased in April, mainly influenced by high import demand amidst mounting logistical disruptions as a result of infrastructure damages in Ukraine and reduced production prospects in Brazil ahead of the start of the main harvest.

For other coarse grains, world prices of barley also rose while those of sorghum declined in April.

The FAO All Rice Price Index declined by 1.8%, largely due to falls in Indica quotations driven by harvest pressure.

May 3, 2024/ FAO.
https://www.fao.org

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Evolution of the FAO cereal price index. Source: FAO.

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