International maize and sugar prices rise, while rice and soybean oil prices decline

Praia, 21 August (Inforpress) – Global export prices for maize and sugar rose between 12 and 18 August, whilst those for rice and soya oil fell, the National Secretariat for Food and Nutritional Security (SNSAN) reported today.

According to the report by this government agency under the Ministry of Agriculture and the Environment, the rise in sugar prices was driven by the prospect of a global shortage and a fall in production among the main exporters.

In the case of maize, prices also rose compared with the previous week, driven by gains in the United States and South America. In Brazil, export prices recorded a weekly increase of 4.1 per cent.

In the United States, expectations of increased demand and concerns about the effects of recent storms and floods in the Midwest contributed to rising prices. In Argentina, reduced acreage and concerns related to crops and profitability also pushed prices upwards.

RL/CP

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