Cereal: Maize and wheat prices reach record levels worldwide
Maize (Corn)
Wheat
Published Apr 12, 2022
Original content
(Togo First) - Over the past month, global food commodity prices reached their highest level ever and the pace has been maintained in the past weeks. “The FAO Food Price Index averaged 159.3 points in March, up 12.6 percent from February when it had already reached its highest level since its inception in 1990,” the FAO warned. The Rome-based UN body said the surge was mostly driven by prices of commodities like vegetable oil, cereals, meat, sugar, and dairy products. The Russia-Ukraine war’s impact on maize and wheat prices Between February and March, world prices of wheat and corn both soared by nearly 20%, reaching a new record high, the same as sorghum and barley, according to the latest data. The FAO Cereal Price Index leaped by 17.1% from February to March, notably due to significant increases in wheat prices. A situation that is directly linked to the Russia-Ukraine conflict, as the two countries, together, accounted for about 30% of global wheat exports, and 20% of ...
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