FAO: Global cereal price index fell 5% in February

The FAO Cereal Price Index averaged 113.8 points in February, which represents a reduction of 6.1 points (5.0%) compared to January and 32.9 points (22.4%) %) in relation to February 2023. International prices for all major cereals decreased compared to January. Corn export prices fell the most, as expectations of large harvests in Argentina and Brazil, together with competitive prices offered by Ukraine, eager to take advantage of the well-functioning maritime trade route, weighed on the market . With regard to wheat, the fall in international prices resulted mainly from the reduction in export prices due to the strong pace of exports from the Russian Federation, which exerted downward pressure on prices from other sources, particularly from the European Union. In line with the softer tone in the wheat and corn markets, ...