FAO experts have sharply reduced forecasts of grain consumption and stocks in 2022/23
Published Sep 6, 2022
Tridge summary
The average value of the FAO Food Price Index fell for the fifth month in a row. In August, it decreased compared to July by 1.9% or 2.7 points to 138 points, although it is 7.9% or 10.1 points higher than the same indicator last year.
Original content
Thus, the average value of the FAO Cereal Price Index in August decreased compared to July by 1.4% or 2 points to 145.2 points, which is 11.4% or 14.8 points higher than in August 2021 . World wheat prices are falling for the third month in a row, and in August they fell by 5.1% (although they are still 10.6% higher than last year) on forecasts of increased harvests in the USA, Canada and the Russian Federation, a seasonal increase in offers from the Northern Hemisphere, where collection and resumption of exports from Ukrainian Black Sea ports after a 5-month break continues. At the same time, world feed prices increased by 0.2% and are 12.4% higher than last year. World corn prices rose by 1.5% due to drought-induced harvest cuts in the EU and the US, but increased exports from Ukraine limited growth. World prices for barley and sorghum fell by 3.8% and 3.4%, respectively, while rice remained unchanged. The average FAO Vegetable Oil Price Index fell 3.3% or 5.5p to 163.3p in ...
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