FAO cereal price index decreased in March

The FAO Cereal Price Index averaged 109.7 points in March, down 2.9 points (2.6%) from the previous month and 1.2 points (1.1%) lower than in March 2024.

Global wheat prices declined in March as concerns over crop conditions subsided in some major Northern Hemisphere exporters, while uncertainty over rising trade tensions weighed on market sentiment. However, the decline was moderated by currency movements, tighter supply pressure in the Russian Federation, and Türkiye’s removal of its wheat import quota.

Following several consecutive monthly increases, world maize prices also declined in March, driven by improved crop conditions in Brazil with recent rainfall, the start of the harvest in Argentina, bearish projections for the coming season in the United States of America, weaker-than-anticipated import demand from China, and concerns over trade policy changes in various countries.

Among other coarse grains, world sorghum prices declined, while barley prices increased slightly.

Meanwhile, the FAO All Rice Price Index declined by 1.7% in March, as weak import demand and ample exportable supplies kept export quotations under downward pressure.