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Agricultural commodity prices: wheat, rice, sugar, vegetable oil, coffee

International export prices, IMF monthly averages. They don't directly reflect local retail prices.

Market price vs shop price

The prices here are international wholesale benchmarks: an ounce of pure gold, a barrel of crude, a tonne of copper. Gold jewellery, a bank's bar, petrol at the pump or scrap all trade at other prices, which include processing, transport, taxes and margins. GFX.GE does not buy or sell commodities.

Wheat

Wheat, US No.1 Hard Red Winter, IMF monthly average, dollars per metric tonne

This is the US export wheat price, one reference of the world market. Georgia imports most of its wheat, mainly from countries in the region where prices follow other benchmarks. A bread price also covers milling, energy, labour and transport.

Maize (corn)

Maize, US No.2 Yellow, FOB Gulf of Mexico, IMF monthly average, dollars per metric tonne

Maize is used for food, animal feed and biofuel. The international price is the US export price and does not directly reflect local markets.

Coffee (Arabica)

Coffee, Other Mild Arabicas, IMF monthly average, US cents per pound

This is the wholesale price of green (unroasted) Arabica beans. It moves with harvests, weather in Brazil and Colombia, and demand. Packaged coffee in a shop costs far more: roasting, packing, transport, taxes and margins.

Rice

Thai rice, IMF monthly average, dollars per metric tonne

This is the export price of Thai rice, a main reference of the world market. A shop price adds transport, packaging and the importer's and retailer's margins, so this figure shows the trend rather than the shelf price.

Sugar

Sugar No.11, world market, IMF monthly average, US cents per pound

No.11 is the main world benchmark for raw sugar. Harvests in Brazil and India move the price most. Sugar costs more in a shop because refining, transport and the retailer's margin are added.

Sunflower oil

Sunflower oil, IMF monthly average, dollars per metric tonne

Ukraine and Russia are the largest suppliers of sunflower oil to the world market. This is a wholesale price of oil per tonne: a bottle in a shop adds packaging, transport and margin.

Rapeseed oil

Rapeseed oil, IMF monthly average, dollars per metric tonne

Rapeseed oil is used both as food and for biodiesel, especially in Europe. Its price often moves together with sunflower and other vegetable oils.

Soybeans

Soybeans, IMF monthly average, dollars per metric tonne

Soybeans are used mainly for oil and animal feed, so their price also feeds indirectly into the cost of meat and dairy. The main producers are Brazil, the United States and Argentina.

Barley

Barley, IMF monthly average, dollars per metric tonne

Barley is used mainly for animal feed and for malt in beer. Its price often moves with wheat and maize, since these crops can replace each other in feed.

Cocoa

Cocoa beans, IMF monthly average, dollars per metric tonne

Most cocoa grows in West Africa, in Cote d'Ivoire and Ghana, so weather and harvests there can move the price sharply. It feeds into the cost of chocolate and confectionery.

Tea

Kenyan tea, IMF monthly average, US cents per kilogram

This is the price of Kenyan tea, one reference of the world auctions. Tea in a shop costs much more, since the price includes the variety, brand, packaging and transport.

Beef

Beef, IMF monthly average, US cents per pound

This is an international wholesale reference for beef. In Georgia the market price depends heavily on local supply, the season and the cut, so this figure only shows the world trend.

Poultry

Poultry, IMF monthly average, US cents per pound

This is an international wholesale reference for poultry. The price is closely tied to the cost of feed, meaning maize and soybeans. A shop price also depends on imports, freezing and packaging.

Oranges

Oranges, IMF monthly average, dollars per pound

This is an international reference price for oranges. The local price also depends on the season and the country of import, so this figure shows the world trend rather than the market price.

Cotton

Cotton, IMF monthly average, US cents per pound

Cotton is the main natural textile fibre. China, India and the United States are large producers. Raw cotton is a small part of a garment's price, so its moves reach shops slowly and only in part.

Prices are for information: international benchmarks from gold-api.com, the EIA and the IMF (via FRED), converted at the National Bank rate. Not an offer to buy or sell, and not investment advice.

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