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The FAO Cereal Price Index averaged 109.0 points in May, down 2.0 points (-1.8%) from April and 9.7 points (-8.2%) below its May 2024 level.
Global maize prices declined sharply during the month, pressured by firm competition and increasing seasonal availability from ongoing harvests in Argentina and Brazil, with harvesting in both countries ahead of last year’s pace by the end of May. Expectations of a record 2025 maize harvest in the United States of America further contributed to the downward pressure on prices.
Among other coarse grains, world prices of sorghum and barley also dropped. International wheat prices declined as well, albeit more moderately, due to subdued global demand and improving crop conditions in the northern hemisphere. Rainfall towards the end of the month reduced the risk of drought in parts of Europe, the Black Sea region and the United States of America.
By contrast, the FAO All Rice Price Index increased by 1.4% in May, driven by firm demand for fragrant varieties and higher prices of Indica rice, partly influenced by currency appreciations against the United States dollar in some exporting countries.
June 6, 2025/ FAO.
https://www.fao.org
