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Cereal prices continue to rise in April, says FAO Food Price Index
The FAO Food Price Index remained nearly unchanged in April; however, cereal and dairy prices continued to rise.
The Cereal Price Index rose 1.7 percent from March, reaching almost 16 percent higher than its April 2017 levels. This is the fourth consecutive month of such increases, which are being driven largely by weather-related fears for wheat and maize and government purchases in Indonesia and the Philippines for rice.
Global wheat and maize prices continue to rise
Global wheat and maize prices rose for the third consecutive month in March, according to the latest FPMA Bulletin from FAO. This increase brings prices more than 10 percent above their December 2017 levels.
Prolonged dry weather in the United States drove much of the price increases for wheat, as did concerns about cold and wet weather in some parts of Europe. Dry weather in Argentina contributed to maize price increases. Global demand for these commodities also remained strong in March, further driving up prices.
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