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The FAO Global Cereals Price Index fell in August

Published Sep 16, 2022

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In August, the FAO Cereals Price Index dropped 1.4% from the previous month, but is 11% above its previous year value.

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The FAO Cereals Price Index recorded, in August, an average value of 145.2 points, that is, 2.0 points (1.4%) less than in July, but still 14.8 points (11.4%) above its August 2021 value. In August, international wheat prices declined by 5.1%, their third consecutive monthly decline, due to an improvement in the outlook for production, especially in Canada, the United States of America and the Russian Federation, and the greater seasonal availability as harvesting campaigns are underway in the northern hemisphere, as well as the resumption of exports from Ukrainian ports on the Black Sea for the first time after an interruption of more than five months. However, world wheat prices remained 10.6% higher than in August last year. The international prices of secondary cereals only increased (0.2%) in August and were on average 12.4% above their values of 1 year ago. World maize prices showed a slight increase of 1.5%, largely influenced by the prospects of reduced production in the ...
Source: 3tres3
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