Global wheat prices increased in August due to the deterioration of forecasts for the grain harvest, Trend reports on Sept.6 citing the report of the Food and Agriculture Organization of the United Nations (FAO).

According to the report, the average value of the FAO cereal price index in the specified month was 129.8 points, which is 4.3 points (3.4 percent) and 30.8 points (31.1 percent) more than in July 2021 and August 2020, respectively.

“As a result of deteriorating crop forecasts in several large exporting countries, world wheat prices increased by 11.1 points (8.8 percent) compared to the previous month, exceeding the level of the same period of last year by 41.5 points (43.5 percent)”, the report said.

According to experts, in August this year prices for other grain products fluctuated. The decline in forecasts for barley production, mainly in Canada and the US, as well as an increase in wheat prices, led to a growth in the international price quotations for barley by 10.9 points (9 percent) compared to July, as a result of which they rose by 34.7 points (35.6 percent) exceeded the figure for the same period of last year.

Source: TREND News Agency