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Food Price Monitoring and Analysis (FPMA) Bulletin #9, 10 November 2021

Monthly Report on Food Price Trends













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    Wheat export prices increased further in November, reflecting tight export availabilities. International barley and maize prices also increased, while those of rice kept broadly steady reined in by harvest progress in various Asian suppliers and scattered demand. In East Africa, prices of coarse grains followed mixed trends in November lingering at levels higher than one year ago, with exceptionally high levels still prevailing in South Sudan and the Sudan. Across most of West Africa, prices of coarse grains generally levelled off or increased in November, and remained above their year-earlier values, in particular in the regions where worsening security conditions continued to disrupt food trade and markets. In East Asia, prices of wheat grain and wheat flour continued to increase in November in several countries and were mostly well above their year-earlier levels, largely reflecting the high prices in international markets.
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    International prices of wheat fell again in January, as the short-term outlook for global supplies continued to improve, in particular following latest estimates of larger 2022 outputs in Australia and the Russian Federation than earlier expected. By contrast, international coarse grain prices firmed marginally, mostly reflecting the continued strong demand for maize supplies from Brazil. For rice, tighter availabilities, strong local demand in some Asian exporting countries and exchange rate movements increased international prices at an accelerated pace in January. FAO’s analysis of domestic staple food prices indicates that significantly high price levels persisted in December 2022 and January 2023, despite some evidence of easing from 2022 peaks for selected countries, including parts of Southern Africa and West Africa. Food access constraints will likely continue in the near term, amid fragile social and economic conditions in several areas, especially in the Horn of Africa. Developments in the global market, along with other concurrent shocks, including adverse weather events, conflicts and macroeconomic challenges such as currency weaknesses, will continue to influence domestic staple food price trends.
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    Food Price Monitoring and Analysis (FPMA) Bulletin #5, 14 June 2023
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    International prices of wheat and maize continued to decline in May, while rice prices increased further. The downward trend in wheat prices was mostly due to ample global supplies and subdued import demand, while an expected record crop in Brazil and higher production in the United States of America were largely behind the decline in maize prices. The extension of the Black Sea Grain Initiative also contributed to softening world prices. By contrast, international rice quotations continued their upward trend in May, as previous deals with Asian buyers were executed and supplies tightened in some exporters, such as Viet Nam and Pakistan. In most countries monitored by FAO, domestic staple food prices in May 2023 remained above their year‑earlier levels. Conflict and insecurity, adverse weather, high prices of agricultural inputs, elevated distribution costs as well as currency weaknesses continue to be the major drivers. Coarse grain prices remained considerably high in East and West Africa, while harvests eased the pressure on maize prices in Southern Africa and South America. In Eastern Europe, Caucasus and Central Asia countries and East Asia, ample stocks and supplies from ongoing harvests contributed to the softening of wheat and wheat flour prices. Meanwhile, in East Asia, domestic rice prices increased in major exporting countries despite harvest pressures weighing on prices in other countries of the subregion.

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