FPMA Bulletin #9, 9 November 2018
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International prices of wheat in October were supported by concerns over a tighter global supply outlook, those of maize in the United States of America rose, mostly supported by large export sales. By contrast, export prices of rice were generally weaker on account of harvest pressure, export competition and currency movements.
In Asia, in the Philippines, the start of the 2018 main season harvest halted the upward trend of rice prices of the past several months on the backdrop of low public inventories and increased fuel costs. Prices, however, remained at record or near-record highs, well above their levels in October 2017.
In Central America, prices of white maize dropped markedly in October, mainly as a result of improved market availabilities from the 2018 main season harvest. Prices, however, remained well above their year-earlier values in most countries, particularly in Nicaragua, following the sustained increases since the beginning of 2018.