February 24, 2025 | 10:39 GMT +7
Hotline: 0913.378.918
February 24, 2025 | 10:39 GMT +7
Hotline: 0913.378.918
International prices of coarse grains dropped by 5.6% in November, led by a sharp fall in corn prices, while wheat prices declined by 2.4%, the FAO said. Its All-Rice Price Index remained stable month-on-month amidst contrasting price movements across different origins and market segments.
International prices of coarse grains dropped by 5.6% in November, led by a sharp fall in corn prices, while wheat prices declined by 2.4%, the FAO said. Its All-Rice Price Index remained stable month-on-month amidst contrasting price movements across different origins and market segments.
However, with lower international cereal quotations offset by higher prices of vegetable oils, the FAO Food Price Index, which tracks monthly changes in the international prices of a set of globally-traded food commodities, averaged 120.4 points in November, unchanged from its level in the previous month and 10.7% lower than in November 2022.
In a separate report, the FAO also raised its forecast for this season’s harvests in a new Cereal Supply and Demand Brief. World cereal production in 2023 is now pegged at 2.823 billion tonnes, up 0.9% from the previous year and 10.3 million tonnes above the previous record high reached in 2021.
Upward revisions were made for wheat output in the Russian Federation and Turkey, and for corn in the United States, while production forecasts were reduced somewhat for Argentina and Brazil. Forecasts for corn production were trimmed for the European Union and Mexico. The FAO also expects global rice production in 2023-24 to rise by 0.8% from the previous marketing season.
Looking ahead to the next season, planting of the 2024 winter wheat crop is ongoing in the Northern Hemisphere countries and, reflecting lower crop prices, area growth could be limited, the FAO said. Sowing of the 2024 coarse grain crops is ongoing in the Southern Hemisphere countries, with slower sowings in Brazil but a rebound in Argentina.
World cereal total utilization in 2023-24 is forecast at 2.813 million tonnes, 1.1% higher than in 2022-23. World cereal stocks by the end of the 2023-24 season are predicted to rise by 2.7% above their opening level and mark a new record high. Based on the latest forecasts, the global cereal stock-to-use ratio would be 30.8% in 2023-24, indicating an overall comfortable supply level, the report said.
World trade in cereals in 2023-24 is forecast to contract slightly to 468.4 million tonnes, down 1.8% from the 2022-23 level.
(WG)
(VAN) Retail fertilizer prices tracked by DTN for the second week of February 2025 continued to show most nutrients are more expensive with three fertilizers noticeably higher.
(VAN) Coffee prices on February 21, 2025, saw a sharp decline globally. Domestic coffee prices dropped by VND 1,500, trading at VND 130,700 - 132,000/kg.
(VAN) Pepper prices on February 21, 2025, slightly decreased in Indonesia, while domestic prices remained stable, trading around VND 160,000 - 162,500/kg.
(VAN) Pepper harvest in Gia Lai has commenced, and the producers are filled with optimism as prices continue to increase. Local authorities have recommended that development remain consistent without the expansion of cultivation areas.
(VAN) Coffee prices on February 20, 2025, have risen simultaneously. Domestic coffee prices have increased by VND 1,500, reaching VND 132,200 - 133,500/kg.
(VAN) Pepper prices on February 20, 2025, remained unchanged in global markets. Domestic pepper continues to trade at a high level of VND 160,000 - 162,500/kg.
(VAN) Coffee prices on February 19, 2025, show mixed fluctuations globally. Domestic coffee prices increased by VND 700, trading at VND 130,300 - 132,000/kg.
