The average value of the FAO Price Index for cereals was 165.6 points in March, which is 12.1% higher than in March 2017.
In recent months, there has been an increase in prices for almost all major cereals, FAO reported.
In particular, due to prolonged drought in the United States of America and cold weather in several parts of Europe, quotations of wheat prices increased.
The rise in corn prices was even more significant due to a deterioration in crop forecasts, especially in Argentina, and a stable demand for this grain.
World prices for rice remained at a high level due to purchases in Asia.