After a three-month decline, world export prices for wheat stabilized

07/05/2024 09:42

In April, the average value of the FAO Cereal Price Index was 111.2 points, which is 0.3% lower than the March indicator and 18.3% lower than the April 2023 indicator.

As noted, after a decline that lasted for three months in a row, the average world export prices for wheat stabilized.

"The increase in prices was triggered by fears in connection with unfavorable weather conditions for the development of crops for the 2024 harvest, which developed in some parts of the European Union, the Russian Federation and the United States of America, which were partially leveled by active competition between large exporters," the experts explained .

At the same time, the increase in export prices for corn recorded in April was mainly due to high import demand against the background of logistical problems that are intensifying due to infrastructure damage in Ukraine and a decrease in crop prospects in Brazil on the eve of the start of the main harvest.

 

As for other fodder grains, an increase in world prices for barley and a decrease in sorghum prices were noted in April. The average value of prices for all types of rice decreased by 1.8%, mainly due to a drop in quotations of Indian varieties of rice due to the start of harvesting of the new crop.

In April, the average value of the FAO Cereal Price Index was 111.2 points, which is 0.3% lower than the March indicator and 18.3% lower than the April 2023 indicator.
As noted, after a decline that lasted for three months in a row, the average world export prices for wheat stabilized.
"The increase in prices was triggered by fears in connection with unfavorable weather conditions for the development of crops for the 2024 harvest, which developed in some parts of the European Union, the Russian Federation and the United States of America, which were partially leveled by active competition between large exporters," the experts explained .
At the same time, the increase in export prices for corn recorded in April was mainly due to high import demand against the background of logistical problems that are intensifying due to infrastructure damage in Ukraine and a decrease in crop prospects in Brazil on the eve of the start of the main harvest.
As for other fodder grains, an increase in world prices for barley and a decrease in sorghum prices were noted in April. The average value of prices for all types of rice decreased by 1.8%, mainly due to a drop in quotations of Indian varieties of rice due to the start of harvesting of the new crop.
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