Global: FAO cereal price index rises in September

Published 2024년 10월 8일

Tridge summary

The FAO Cereal Price Index experienced a slight increase in September, reaching 113.5 points, a 3.0% rise from August, but still 10.2% lower than the September 2023 level. This increase was primarily due to concerns over adverse weather conditions in key wheat-producing areas, such as Canada and the European Union, which led to higher world wheat prices. Despite these increases, the competitive pricing from the Black Sea region helped to limit the price surge. Additionally, world maize prices also rose due to various factors including low water levels in crucial rivers and strong domestic demand. Meanwhile, the All Rice Price Index saw a 0.7% decrease in September, attributed to quieter market dynamics and lower prices for Indian basmati rice.

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

Original content

The FAO Cereal Price Index averaged 113.5 points in September, up 3.3 points (3.0%) from August but still 12.8 points (10.2%) below its September 2023 value. After declining for three consecutive months, world wheat prices rose in September, largely due to concerns about unfavourable weather conditions in some major exporters. Overly wet conditions in Canada and the European Union caused harvest delays in the former and led to a significant reduction in the production forecast for the latter. However, competitively priced supplies from the Black Sea region limited price increases. World maize prices also rose month-on-month, boosted by low water levels in the Madeira River in Brazil and the Mississippi River in the United States, along with strong domestic demand in Brazil and a solid export pace in Argentina. Among other secondary grains, world barley prices stabilized while sorghum prices declined. The FAO All ...

Source: 3tres3