FAO – Monthly Report on Food Price Trends, May 2024

Global wheat export prices stabilized in April 2024, following three consecutive months of decline, while maize prices increased. International rice prices decreased by 1.8% due to harvest pressure. Staple food prices remained high in many countries monitored by the FAO, driven by macroeconomic difficulties and high food distribution costs. Crisis situations in Haiti and parts of Africa negatively impacted food production and market functionality, leading to high food prices. Weather-related shocks affected maize prices in Southern Africa and South America but led to declines in wheat prices in parts of Europe and Asia. Global wheat export prices stabilized due to robust demand, with increases in Argentina and Russian Federation prices offset by declines in Australia, Canada, and U.S. prices. World maize prices increased in April, with Ukraine prices rising by 5% due to high import demand.