The FAO Cereal Value Index averaged 110.8 issues in March, down 3.0 issues (2.6%) from February and 27.7 issues (20.0%) beneath its March 2023 worth.
International wheat export costs declined for the 3rd consecutive month in March, most commonly because of persevered sturdy export festival a number of the Ecu Union, the Russian Federation and america of The us. Amid plentiful provides, cancelled wheat purchases via China (from each Australia and america of The us) positioned downward drive on markets, whilst beneficial crop potentialities for the 2024 harvest within the Russian Federation and america of The us additionally contributed to the softer value tone.
In contrast, maize export costs edged marginally upwards month-on-month. Expanding purchasing passion, particularly from China, amidst logistical difficulties in Ukraine and somewhere else, equipped some toughen to maize costs, however it used to be countered via seasonal drive in Argentina and Brazil the place harvests are underway.
For different coarse grains, international costs of barley fell whilst the ones of sorghum higher in March.
The FAO All Rice Value Index declined via 1.7% in March, in large part reflecting a subdued world import call for.
April 5, 2024/ FAO.
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