The Food and Agriculture Organisation of the United Nations (FAO) has said international wheat prices rose for a fourth consecutive month in May, up by 5.6 per cent to average 56.2 per cent above the value in 2021.
The Organisation, who revealed this in its Food Price Index (FPI) report, noted that the increase was only 11 per cent below the record high prices reached in March 2008.
According to the report, the steep increase in wheat prices was in response to an export ban announced by India amidst concerns over crop conditions in several leading exporting countries, as well as reduced…
Source: AgroNigeria
Read the full article here
