The FAO Cereal Worth Index averaged 126.3 issues in September, up 1.3 issues (1.0%) from August however status 21.6 issues (14.6%) under its price a 12 months in the past. This month’s build up was once led via a 5.3% build up in world coarse grain costs. After seven months of consecutive declines, world maize costs greater via 7.0% in September, pushed via a confluence of things, together with sturdy call for for Brazil’s provides, slower farmer promoting in Argentina and greater barge freight charges because of low water ranges at the Mississippi River in the USA of The us. Amongst different coarse grains, global sorghum costs additionally firmed in September, in step with maize worth tendencies, whilst barley costs remained necessarily solid. In contrast, world wheat costs endured to drop, falling via 1.6% month-on-month, underpinned via considerable provides within the Russian Federation, the place manufacturing possibilities had been lifted in September. The FAO All Rice Worth Index edged reasonably down via 0.5% month-on-month in September, whilst last up to 27.8% above its year-earlier price. The slight decline in September was once pushed via in most cases low import call for, even though worth falls tended to be capped via lingering uncertainties relating to India’s rice export restrictions and gradually thinning provides forward of new-crop harvests in Asia.
October 6, 2023/ FAO.
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