Maize prices have increased on last month after new data suggested US farmers would plant fewer hectares of maize than was previously expected for the 2018/19 season, causing prices to rise 4% in one day.
Rice prices in Thailand have risen due to increased import demand from Indonesia. Indonesia is to purchase 300,000 and 200,000 tonnes of rice from Vietnam and Thailand respectively.
Coffee prices remain relatively low as the 2018/19 season gets off to a positive start. Tea prices are also coming down following welcome rains in Kenya, which have helped production stabilise following a drought.
Palm oil prices declined slightly month on month in Europe due to smaller than expected decline of Malaysian palm oil stocks in March.
| Key climbers | Price in GBP per tonne | m-o-m % | y-o-y % |
|---|---|---|---|
| Cocoa butter (UK) | 5,341 | 16.3% | 25.2% |
| Maize (Euronext Paris) (FR) | 148.1 | 2.7% | -1.3% |
| Wheat - Feed (ICE) (EU) | 146.7 | 2.2% | -1.20% |
| Rice (Class B) (TH) | 304 | 2.0% | -0.6% |
| Sunflower oil (EU) | 575 | 0.7% | -7.7% |
| Key fallers | Price in GBP per tonne | m-o-m % | y-o-y % |
| Tea (LK) | 2,956 | -9.3% | -18.1% |
| Sugar (London ICE) (UK) | 240.2 | -4.2% | -34.9% |
| Coffee - Arabica (ICE NY) (US) | 1,851 | -3.6% | -23.2% |
| Tea (KE) | 2646 | -2.6% | -16.5% |
| Palm oil (EU) | 480.6 | -1.80% | -4.3% |
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