The FAO Cereal Worth Index averaged 121.0 issues in November, down 3.7 issues (3.0%) from October and up to 29.1 issues (19.4%) from its worth a yr in the past.
Global costs of coarse grains fell probably the most, losing via 5.6% month-on-month. The decline used to be ruled via a pointy fall in international maize costs, underpinned via an build up in farmers’ promoting job in Argentina and a downward power from seasonally upper provides in the US of The us, the place the manufacturing estimate used to be revised upwards. Amongst different coarse grains, international costs of barley fell, whilst sorghum costs firmed relatively.
Global wheat costs additionally declined, via 2.4% in November, principally pushed via greater seasonal provides in Argentina and Australia, with the growth within the harvests and the ongoing sturdy festival from the Russian Federation.
In the meantime, the FAO All Rice Worth Index remained solid month-on-month in November amidst contrasting value actions throughout origins and marketplace segments.
December 11, 2023/ FAO.
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