World corn prices in February 46% higher above last year's
The FAO Cereal Price Index averaged 125.7 points in February, up 1.5 points (1.2%) from January and 26.3 points (26.5%) above its February 2020 level.
"Among major coarse grains, international sorghum prices increased the most, rising 17.4% in February, up 82.1% above their values in the corresponding month last year, driven by ongoing strong demand from China," the report reads.
International corn prices also rose, albeit by only 0.9% from the previous month. Corn export prices in February were up 45.5% from the previous year, underpinned by continued strong import demand amidst shrinking export supplies.
Wheat export prices remained nearly stable in February, but up 19.8% from last year’s level.
As of Mar. 5, grain export from Ukraine amounted to 32.65 mln t, 20% lower YoY. 78.9% of the agreed volume of wheat export was shipped.
The active procurement of the 2021 harvest grain has started in the Black Sea region.
Learn more:
- TOP 10 Importing Countries of Ukrainian Grain in 2020
- Wheat Exporters from Ukraine in 1H 2020
- Corn Exporters from Ukraine in 1H 2020
