Agriculture commodities up over 8 per cent in February

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Agriculture commodities were up over eight per cent last month, reflecting an upturn in demand in China.

The latest weekly price data from the International Trade Centre showed that agri-food products accounted for the largest gain of all major categories, up 5.6 per cent to US$12.78 billion in February.

The increase in demand from China, which accounts for more than half of the world’s agri products exports, came after a strong year for global demand for wheat, corn, cotton, rice, sugarcane, tobacco and soybeans.

However, agri commodities remained broadly flat in the months of February and March.

The dollar weakened against the euro, while the Australian dollar gained against the yen.