Wheat prices up 56% over a year — FAO

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The FAO Cereal Price Index rose 2.2 percent in May compared to the previous month. Wheat led the way, with prices up 5.6% from April and 56.2% from a year earlier.

«International wheat prices, which are only 11% below their March 2008 record, rose in response to an export ban announced by India and concerns about the state of crops in several leading exporting countries, along with lower production prospects in Ukraine because of the war,» the analysts informed.

Global rice prices also rose, while coarse grain prices fell by 2.1 percent and corn prices fell even more, thanks to a slight improvement in the United States, seasonal supplies from Argentina and the approaching corn harvest season in Brazil.


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