March 14, 2022

FAO Cereal Price Index increases in February

The FAO Cereal Price Index averaged 144.8 points in February, up 4.2 points (3.0%) from January and 18.7 points (14.8%) from one year earlier.

In February, prices of all major cereals increased from their respective values last month.

World wheat prices increased by 2.1%, largely reflecting new global supply uncertainties amid disruptions in the Black Sea region that could potentially hinder exports from Ukraine and the Russian Federation, two major wheat exporters currently at war over the full-scale Russian invasion of Ukraine.

Coarse grain export prices also rose by 4.7%. World maize prices increased by 5.1% month-on-month, underpinned by a combination of continued crop condition concerns in Argentina and Brazil, rising wheat prices and uncertainty regarding maize exports from Ukraine, a major exporter.

Among other coarse grains, both sorghum and barley export prices firmed month-on-month as well, gaining 5.9% and 2.7%, respectively.

- FAO