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02 May 2014 description

Global Highlights

• During the first quarter of 2014, the global cereal price index decreased by 19% year-on-year, and slightly increased by 1% compared to the previous quarter.

• Nominal prices of maize (-31%), wheat (-8%) and rice (-23%) are significantly below a year ago due to strong supplies.

• Real prices2 of maize are up by 5% since the last quarter of 2013 given a surge in demand and high trade forecasts against comfortable stock levels after 2013 record crops.