0
The FAO Cereal Price Index averaged 147.8 points in September, up 2.2 points (1.5%) from August and 14.9 points (11.2%) above its September 2021 value.
In September, international wheat prices rebounded by 2.2%, underpinned by heightened uncertainty about the Black Sea Grain Initiative's continuation beyond November and the potential impact on Ukraine's exports. Moreover, concerns regarding dry conditions in Argentina and the United States of America, as well as a fast pace of exports from the European Union on top of the bloc’s higher internal demand for wheat amid tighter maize supplies, provided further support to wheat prices.
International prices of coarse grains rose marginally (+0.4%) again in September, with mixed price trends. World maize prices were nearly stable (+0.2%) as a strong United States dollar countered pressure from a tighter supply outlook with further downgraded production prospects in the United States of America and the European Union amid uncertainty regarding Ukraine's exports. International barley prices declined by 3.0%, mostly reflecting improved harvest prospects in Australia and the Russian Federation, while world sorghum prices increased by 13.2% due to reduced production prospects in the United States of America. The FAO All Rice Price Index rose by 2.2% in September. Indica prices spearheaded this increase, rising in response to export policy changes in India, which fostered anticipation that buyers would turn to other rice suppliers. Marketing disruptions and production uncertainties stemming from severe floods in Pakistan added to the price firmness. Nevertheless, demand was generally sluggish, thus capping increases in rice prices.
October 7, 2022/ FAO.
https://www.fao.org
