Global: FAO cereal price index down in November

Published 2024년 12월 16일

Tridge summary

The FAO Cereal Price Index decreased by 2.7% in November, reaching its lowest level since November 2023, primarily due to a drop in global wheat prices caused by increased supplies from the Southern Hemisphere harvests and better crop conditions for the 2025 Northern Hemisphere harvest. Despite stable world maize prices, which were influenced by factors such as favorable weather in South America, weaker demand for Ukrainian supplies, and domestic demand in Brazil and Mexico, other coarse grains' prices, including barley and sorghum, experienced a slight decline. The FAO All Rice Price Index also fell by 4.0%, attributed to increased market competition, harvest pressure, and currency depreciations against the US dollar.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The FAO Cereal Price Index averaged 111.4 points in November, down 3.0 points (2.7%) from October and 9.6 points (8.0%) below its November 2023 value. Global wheat prices declined month-on-month due to increased supplies from the ongoing harvests in the Southern Hemisphere and improved crop conditions for the 2025 harvests in some major Northern Hemisphere exporting countries. Weaker international demand also contributed to the softer price tone. World maize prices remained stable in November as a result of opposing factors. Downward pressure on prices stemmed from generally favorable weather in South America with the continuing sowing, weaker demand for Ukrainian supplies, and seasonal pressure from the ongoing harvest in the United States of America, while strong domestic demand in Brazil and Mexico’s demand for US supplies provided upward support. Among other coarse grains, world prices of ...

Source: Pig 333