The FAO Cereal Price Index went down by 5,4%
The FAO Cereal Price Index averaged 153.4 points in August, down almost 9 points (5.4 percent) from July.
After rising for three consecutive months, cereal prices in August were pressured by large global supplies.
Wheat values dropped by over 8 percent month-on-month as a result of improved production prospects among exporters, especially in the Black Sea region.
Export quotations for major coarse grains also fell due to ample export availabilities, especially of maize in South America. International rice prices were broadly steady, as slow import demand had offset the support provided by diminishing availabilities ahead of new crop arrivals.