FAO Cereal Value Index averaged 125.0 issues in August, down 0.9 issues (0.7% from July and status 20.6 issues (14.1% under its worth a 12 months in the past).
World wheat costs fell through 3.8%, most commonly reflecting upper seasonal availability from ongoing harvests in numerous main exporters within the northern hemisphere. World coarse grain costs additionally declined in August through 3.4%. Maize costs fell for the 7th consecutive month, hitting their lowest worth since September 2020, underpinned through abundant international provides from a document harvest in Brazil and the beginning of the harvest in america of The us. Amongst different coarse grains, international costs of sorghum declined in August, confused through the beginning of the harvest in america of The us, the sector’s greatest sorghum exporter, whilst international barley costs firmed moderately.
In contrast, the FAO All Rice Value Index in August rose through 9.8% month-on-month to succeed in a 15-year nominal top, reflecting business disruptions registered within the aftermath of India’s July ban on Indica white rice exports. In opposition to a backdrop of seasonally tight availabilities forward of new-crop harvests, uncertainty over the ban’s period and considerations that export restrictions can be prolonged to different rice varieties brought about supply-chain actors to carry directly to shares, re-negotiate contracts or prevent making worth provides, thereby restricting maximum business to small volumes or to in the past concluded gross sales.
September 8, 2023/ FAO.
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