Dry weather in the US has tightened supplies in the wheat market, putting upward pressure on global prices.
Maize output for the upcoming US season is anticipated to drop as growers prepare to plant acreages 2% smaller than last year. The three-year low acreage has already inflated prices.
Palm oil prices have eased this month following forecasts of seasonal increased production in March and April.
Prices of tea leaving Kenya fell in March as rains eased concerns over drought and steadied production. Prices are down 18.7% on last year.
Rice prices have fallen due to reduced demand as Bangladesh removed plans to import rice from Thailand. Many buyers have postponed non-essential rice purchasing in expectation of the value falling further.
| Key Monthly Rises | Price in GBP per tonne | m-o-m % | y-o-y % |
|---|---|---|---|
| Cocoa beans (London ICE) (UK) | 1766.5 | 17.60% | 5.70% |
| Cocoa butter (UK) | 5297 | 15.40% | 24.20% |
| Wheat - Durum (AGREX) (EU) | 207.6 | 5.10% | 7.10% |
| Wheat - Milling - (Euronext Paris) (FR) | 149.4 | 4.00% | 1.40% |
| Maize (Euronext Paris) (FR) | 144.3 | 1.90% | -3.60% |
| Key Monthly Falls | Price in GBP per tonne | m-o-m % | y-o-y % |
| Palm kernel oil (EU) | 729.7 | -10.80% | -24.40% |
| Coconut Oil (EU) | 803.2 | -9.90% | -34.10% |
| Tea (KE) | 2576 | -5.20% | -18.70% |
| Rice (Class B) (TH) | 298.1 | -5.20% | -1.20% |
| Frozen conc orange juice (ICE) (US) | 2196 | -5.10% | -26.80% |
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