18-FAO report Prices for sugar and corn surged in September

1. FAO report: Prices for sugar and corn surged in September FAO report: Prices for sugar and corn surged in September According to the Food and Agriculture Organization (FAO) of the United Nations, increased worries about a tighter supply outlook for the upcoming 2023/2024 season led to an increase in sugar prices globally in September. According to FAO's most recent report, the sugar price index averaged 162.7 points in September, an increase of 14.5 points or 9.8% from August. The index rose for the second consecutive month, taking it to its highest point since November 2010. Sugar Suppliers F Factors Affecting Sugar Pricing actors Affecting Sugar Pricing According to FAO, “the increase in prices primarily resulted from growing concerns over a tighter global supply outlook in the upcoming 2023/24 season. This primarily reflects early forecasts pointing to production declines in key sugar producers, Thailand and India, due to drier-than-normal weather conditions associated with the current El Niño event.” According to FAO, higher global crude oil prices also pushed up the price of sugar globally. However, the size of the crop that Brazil is currently harvesting in the midst of favourable weather conditions, along with the depreciation of the Brazilian Real against the US dollar, limited the rise in global sugar prices M-o-M. Pricing Of Maize And Other Grain Maize prices increased globally by 7% in September due to a variety of factors, including high demand for Brazil's supplies. Slower farmer sales in Argentina and increased barge freight costs as a result of the Mississippi River's low water levels in the US are other factors that are putting pressure on prices.

2. Among other coarse grains, world sorghum prices increased in September, following trends in maize prices, while barley prices essentially held steady, according to the FAO. In contrast, the price of wheat internationally continued to decline, falling by 1.6% month over month, pushed by plentiful supplies in the Russian Federation, where production prospects were improved in September. According to FAO, the rice price index decreased by 0.5% month over month in September but remained up to 27.8% higher than it was a year ago. Although price declines tended to be capped by lingering doubts about India's rice export restrictions and gradually shrinking supplies in advance of new-crop harvests in Asia, the slight decline in September was caused by generally low import demand. The FAO Index The FAO Index The FAO Food Price Index, however, remained stable in September as lower prices for vegetable oils, dairy, and meat offset higher prices for sugar and maize. In September, the FAO Food Price Index, which tracks monthly changes in the prices of internationally traded food commodities, averaged 121.5 points, up from 121.4 points in August. The index is currently 24.0% below its all-time high, which was reached in March 2022, and 10.7% below its value from a year ago. The FAO Vegetable Oil Price Index fell by 3.9% from August, with decreases in international quotations for palm, sunflower, soy, and rapeseed oils. This decline was largely due to increased seasonal production and plentiful supplies for export on a global scale. In addition, the FAO reported that the meat price index decreased by 1% from the previous month due to a combination of weak import demand and plentiful global export supplies driving down prices for pig, poultry, and ovine meat. “In contrast, international bovine meat prices rebounded due to strong import demand for lean beef, particularly in the United States.” If you are a sugar importer wishing to buy sugar in bulk or a sugar exporter willing to export bulk sugar, then Tradologie.com is the right platform for you. Tradologie.com is a Software as a Service platform that facilitates bulk agro-trade across the globe. Through tradologie.com’s interface, buyers can avail the best qualities of agro-commodities at negotiable rates. The transaction oriented platform has 600,000+ verified buyers and about 70,000+ registered sellers of agro-commodities from over 150 countries. To register as a buyer, click here. To register as a seller, click here. To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels.