FAO Cereal Price Index Falls in August

The FAO Cereal Price Index averaged 110.1 points in August, down 0.6 points (0.5%) from July and down 14.9 points (11.9%) from its August 2023 value.

Global wheat export prices fell from the previous month, reflecting sluggish international demand and strong competition among exporters, especially for competitively priced supplies from the Black Sea region. Higher-than-expected wheat production in Argentina and the United States also contributed to the slight decline in wheat prices.

In contrast, world corn prices rose slightly, mainly due to concerns about the impact of the heat wave on yields in the European Union and some parts of the United States. In addition, tighter domestic supplies in Ukraine as production forecasts were revised downwards also contributed to the rise in corn prices.

Among other coarse grains, world barley prices fell while sorghum prices rose.

The FAO Global Rice Price Index rose 0.6 percent in August, as non-Indica rice prices rose slightly due to the impact of seasonally tight supplies and the strengthening of currencies of some exporting countries against the US dollar.

Source: http://www.3tres3.com/vn