In February 2024, the global cereal price index dropped to 113.8 points, a 5.1% decrease from the previous month and a 22.4% decrease year-on-year. This was largely due to falling prices of all cereal types, particularly corn, driven by promising harvest forecasts in Argentina and Brazil, and competitive pricing from Ukraine. Wheat prices also declined due to increased Russian exports, impacting global barley and sorghum prices. Additionally, international rice prices fell due to low demand and the commencement of new harvests.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
In February 2024, this indicator was 113.8 points, i.e. 5.1% lower than in January 2024 and 22.4% lower than in February 2023. The prices of all types of cereals decreased, especially corn. The decline in corn prices was influenced by forecasts of good corn harvests in Argentina and Brazil and competitive prices offered by Ukraine, which efficiently uses the sea trade route. In the case of wheat, the increased rate of export of this grain from Russia put downward pressure on prices on international markets, including: in the ...
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