The drop in sugar prices is mainly due to “record exports from Brazil during the year” and “positive prospects for global supply for the 2024-2025 campaign.”
This reduction in world prices was partly offset by the increase in the amount of vegetable oils (+9.4%), dairy products (4.7%, driven mainly by butter prices) and meat (2.7% ).
Grain prices, especially wheat, soared following the Russian invasion of Ukraine in early 2022, after which they have continued to fall to pre-war levels in international markets.
Wheat export rates in December 2024 remained generally stable.
“Downward pressure exerted by weak international demand and increased seasonal supplies of crops in Argentina and Australia were offset by upward pressure exerted by poor winter crop conditions in Russia,” he explains. the FAO monthly report.
World corn prices, for their part, increased slightly, “supported by a slight increase in export sales and a tightening of supply in the United States, as well as strong demand for (products) originating in Ukraine.”
Among the world prices of coarse grains, those of barley increased and those of sorghum, for their part, fell.
Rice prices decreased slightly (-1.2%) in December, due to the effects of a “slowdown in demand” for aromatic rice, but increased slightly in one year (+0.8%), supported mainly by imports from several countries in Asia in the first nine months of 2024.
Annual oil prices remained high, despite a slight drop in December, boosted by palm oil in a context of “tightening global supply.”
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