May 17, 2022

FAO Cereal Price Index in April down 0.4% from March

The FAO Cereal Price Index averaged 169.5 points in April, down 0.7 points (0.4%) from the record high reached in March (since 1990).

After surging to a record level in March, international coarse grain prices dropped by 1.8% in April, led by a 3.0% decline in maize prices, as seasonal supplies from ongoing harvests in Argentina and Brazil helped ease the pressure on markets.

World sorghum prices also declined in April by 0.4%, while tight supplies pushed barley prices up by 2.5%.

International wheat prices edged upwards in April, albeit marginally, gaining 0.2%.

The continued blockage of ports in Ukraine and concerns over 2022 crop conditions in the United States kept prices elevated, but the price increases were moderated by larger shipments from India, higher-than expected exports from the Russian Federation and slightly dampened global demand as a result of high prices.

- FAO