FAO – Monthly Report on Food Price Trends
Summary
International prices of major cereals decreased in June 2024 due to seasonal supplies and favourable production prospects.
However, domestic staple food prices remained high in some countries due to conflicts, insecurity, and drought. Global wheat export prices fell as ongoing harvests increased supplies, with prices in the US and EU dropping, partly due to a temporary import ban by Türkiye. Russian prices rose slightly due to lower-than-expected production. Maize prices also declined as harvests in Argentina and Brazil were larger than anticipated, while the US reported higher planted acreage. The FAO All Rice Price Index dropped slightly in June, with limited trading activities in Asian exporters leading to lower prices, particularly in Vietnam. Concerns over crop quality and uncertainty over tariff changes in the Philippines further contributed to price declines. Prices in the US remained stable.
Region:
Global
Published:
July 2024
Author(s):
FAO
Language:
English