FAO Cereal Price Index Falls 3.5% on Wheat, Maize Declines

Key facts

• The FAO Cereal Price Index fell 3.5% in June.
• The index reached 110.2 points in June.
• This is the lowest the index has been in four months.
• Wheat prices decreased significantly in June.
• Maize prices decreased significantly in June.
• Improved global supply prospects contributed to the decline.
• A stronger US dollar contributed to the decline.

The FAO Cereal Price Index experienced a notable decline of 3.5% during the month of June, settling at 110.2 points. This marks the lowest level the index has reached in the past four months. The primary drivers behind this decrease were substantial price reductions in both wheat and maize. These declines are linked to improved global supply prospects, suggesting a more abundant availability of these key cereals. Additionally, a stronger US dollar contributed to the overall decrease in cereal prices.