0
The FAO Cereal Price Index averaged 121.0 points in November, down 3.7 points (3.0%) from October and as much as 29.1 points (19.4%) from its value a year ago.
International prices of coarse grains fell the most, dropping by 5.6% month-on-month. The decline was dominated by a sharp fall in world maize prices, underpinned by an increase in farmers’ selling activity in Argentina and a downward pressure from seasonally higher supplies in the United States of America, where the production estimate was revised upwards. Among other coarse grains, world prices of barley fell, while sorghum prices firmed slightly.
International wheat prices also declined, by 2.4% in November, mainly driven by increased seasonal supplies in Argentina and Australia, with the progress in the harvests and the continued strong competition from the Russian Federation.
Meanwhile, the FAO All Rice Price Index remained stable month-on-month in November amidst contrasting price movements across origins and market segments.
December 11, 2023/ FAO.
https://www.fao.org
