GLOBAL MARKET INFORMATION
The FAO Food Price Index averaged 162.5 points in May 2020, down 3.1 points (1.9%) from April and reaching the lowest monthly average since December 2018.
With the continued negative economic effects of Covid-19, this index has been on a downward trend for 4 consecutive months.
The FAO Cereal Price Index averaged 162.2 points in May, down 1.6 points (1%) from April and very close to its level in the corresponding month last year. Among major cereals, only rice prices rose in May.
In coarse grain markets, US maize prices, continuing the downward trend of the last four months, fell further in May, to almost 16% below the corresponding period last year. Weak demand from feed and biofuel sectors, amidst abundant export supplies, continued to pressure international maize prices.