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Journal, magazine, bulletinFPMA Bulletin #5, 11 June 2018
Monthly Report on Food Price Trends
2018Also available in:
No results found.International prices of wheat and maize rose further in May, mainly underpinned by weather-driven concerns over production prospects in key producing countries. International prices of rice remained firm, with upward pressure from sizeable purchases by Southeast Asian buyers largely offset by weaker currencies in key exporting countries. In East Africa, in the Sudan, prices of staple foods: millet, sorghum and wheat increased sharply in May, after faltering in the past two months and reached record highs. The recent increases reflect concerns over the performance of the 2018 harvest, which compounded upward pressure from a weak currency and the removal of wheat subsidies. In South America, prices of yellow maize and wheat continued to increase in key producers and exporters, Argentina and Brazil, reaching levels well above those in May last year and exerting upward pressure on prices in importing countries of the subregion. Prices of maize were mainly underpinned by sliding currencies and expectations of reduced outputs this year, while those of wheat were supported by seasonal pressure compounded mostly by the weaker currencies. In Central America, in Nicaragua, prices of white maize continued to increase sharply in May, with seasonal upward pressure exacerbated by higher fuel costs and ongoing social unrest. In general, prices of maize in the subregion were at levels well above those in May last year. -
NewsletterGIEWS FPMA Bulletin #5, 12 June 2017 2017International wheat prices followed mixed trends in May, increasing in North America and the European Union due to unfavourable weather developments but down slightly in the Black Sea region and Argentina. Export prices of maize remained generally unchanged, while rice quotations were underpinned by strong demand. In Asia, rice prices rose sharply to record highs in Bangladesh, reflecting tighter supplies due to reduced production and imports in 2016, along with flood‑related damages to the 20 17 main season crop. Rice price increases were also recorded in the main exporting countries, while they remained relatively stable elsewhere. In East Africa, cereal prices continued to rise in several countries in May, reaching record to near-record levels. Seasonal patterns were exacerbated by reduced supplies from the drought-affected 2016 second season outputs and by uncertain prospects for the upcoming 2017 harvests due to poor rains and crop pests. In West Africa, coarse grain prices in creased seasonally in May and reached levels above those a year earlier, particularly in Niger, due to localized production shortfalls last year and reduced imports. In Nigeria, the substantial depreciation of the local currency continued to underpin food prices, with further support provided by high transport costs and insecurity.
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Book (series)FPMA Bulletin #4, 10 May 2016 2016International prices of wheat showed mixed trends in April but remained lower than a year earlier reflecting mostly good prospects for 2016 production. By contrast, maize export quotations generally increased supported by solid export demand and concerns about 2016 production prospects in South America. In Asia, rice prices strengthened in exporting countries in April amid expectations of reduced 2015 secondary crops, due to dry weather associated with the El Niño phenomenon. In South Africa, pr ices of white maize continued to decline from the record levels of February with the ongoing harvest but were still high, underpinned by tight supplies and poor crop prospects. In Nigeria, the currency weakness triggered further increases in coarse grain prices, with those of sorghum at record highs. Steep price increases were also recorded in South Sudan. In Argentina, strong exports supported by the depreciation of the local currency and the recent elimination of export taxes underpinned price s of maize which were at record highs in April and pushed prices of wheat to double their year-earlier levels. Similarly, in Brazil, maize prices were mainly underpinned by rising exports but also sustained domestic demand from the feed industry.
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