Thai rice prices are up 29.7% year on year after an 8% fall in Thai exports to nine million tonnes. Prices are now £328.5 per tonne, up 10.9% month on month. This comes despite an 8% rise in production to 17 million tonnes in 2016/17.
Malting barley prices have also seen a significant rise in France after heavy rains led to the deterioration of the crop quality and yields. Total barley production there is down 20% year on year, meaning prices are up 23% year on year.
Record high production of crude oil in Saudi Arabia, along with building stocks in the US have led to a continued drop in prices and fears of oversupply.
Arabica coffee prices have fallen due to improved weather during the ongoing Brazilian harvest. Production is now expected to be 21% up year on year at 43.9 million bags.
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