World grain prices fell to 10-year low – FAO
Large stocks of grain have led to lower prices on world markets to its lowest in 10 years, according to FAO.
the organization's Experts believe that global wheat prices will remain low in the 2016/17 season MY. Will not allow prices to grow large export volumes of barley, corn and sorghum.
the index of prices for FAO cereals in September of this year reached the lowest level since October 2006. FAO analysts noted that relative to 2008, when the global market witnessed a shortage of wheat, now export prices fell by 47%.
Assessment of world stocks of grain crops at the end of the 2016/17 MG relative to the previous forecast reduced by 8.3 million tons to 256,1 million. This decline in reserves caused by the increase in world consumption.
the World's wheat crop this year will be 742,8 million tons, 1.6 million tons more than the previous forecast. An increase in the forecast due to the improvement of grain yield in Australia and Argentina.