FAO Cereal Price Index rose 4.1 points in May

The FAO Cereal Price Index averaged 172.9 points in May, 4.1 points (2.4 percent) above its April level.

The index continued on an upward path since the start of this year, standing in May at almost 17 percent above its corresponding value a year ago and reaching the highest level since January 2015.

International prices of all major cereals have strengthened considerably in recent months, and in May wheat values gained largely on concerns over production prospects in a number of major exporting countries.

International prices of leading coarse grains also rose, mostly due to deteriorating production prospects in Argentina and Brazil.

Sizable purchases by Southeast Asian buyers kept international rice prices firm in May, notwithstanding weaker currencies of some top exporting countries and soft demand for aromatic and parboiled rice.