FAO Cereal Price Index up in June

The FAO Cereal Price Index averaged 173.2 points in June, up 6.7 percent (almost 11 points) from May and 3.8 percent higher than in June 2018.

"The latest increase in the value of the Index was driven by a sharp rise in corn export price quotations, for the third consecutive month, mainly due to expectations of much tighter export supplies in the United States — the world’s largest producer and exporter of corn," the message says.

International wheat prices rebounded following two consecutive months of declines, partly due to production uncertainties while spillovers from higher maize values also contributed to the increase.

Previously reported that in the 2018/19 season grain exports from Ukraine reached 49,74 mmt.