FAO: World prices for all major cereals declined for the month of March
India
Vietnam
Published Apr 8, 2023
Tridge summary
According to a new report issued today, Friday, by the Food and Agriculture Organization of the United Nations (FAO), the FAO Cereal Price Index averaged 138.6 points in March, down 8.2 points (5.6%) from February and 31.6 points (18.6%) from its level one year ago.
Original content
The decline this month reflects a decline in international prices for all major grains. International wheat prices recorded the largest decline, with 7.1 percent, due to abundant global supplies and strong competition between its exporters. The extension of the Black Sea initiative for grain transportation allows Ukraine to continue exporting from its ports in The Black Sea also contributed to the decline. Expectations of higher production in Australia, coupled with improved crop conditions in the European Union this month, led to the expectation of more global supplies. Strong competition from the Russian Federation, where ample availability continues to support competitive prices, further reduced prices in the markets. International maize prices also fell by 4.6 percent in March, pressured by seasonal availability thanks to harvests in South America, and expectations of output Record in Brazil and extension of the Black Sea Grain Transport Initiative. Among other coarse grains, ...
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