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Food Price Monitoring and Analysis (FPMA) Bulletin #2, 10 March 2022

Monthly Report on Food Price Trends












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    International prices of coarse grains fell in April as maize harvests in Argentina and Brazil helped ease pressure on maize markets. By contrast, wheat prices edged upwards as global supply tightness persisted amidst the significantly reduced exports from Ukraine due to war-related impacts on export supply chains. For rice, strong Asian demand and weather setbacks in the Americas drove international prices up during April. In West Africa, new record high prices of coarse grains were reported in several countries, driven by a seasonal uptick in demand, lower cross‑border trade flows and higher international commodity prices. Conflicts in the Sahel and weak currencies in coastal countries added upward pressure on domestic prices. In East Africa, prices of coarse grains remained firm or increased further in April and continued to be well above their year-earlier levels across the subregion. Exceptionally high price levels continued to prevail in South Sudan and the Sudan. In Far East Asia, in Sri Lanka, prices of rice and wheat flour increased further in April to new highs mostly due to the sustained effects of precipitous currency depreciation and the below-average 2022 “Maha” crop output. In South America, prices of wheat in April remained significantly higher year on year and at record highs in some countries, owing to strong international demand in exporting countries and elevated international quotations in net-importing countries.
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    FPMA Bulletin #3. 11 April 2016
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    Prospects for continuing large global supplies kept international prices of wheat and maize under downward pressure in March. Export prices of rice in Asia generally firmed, but they were still down in March compared to the same period last year. In East Africa, coarse grain prices rose further in March, sustaining the already high levels, particularly in South Sudan. In Southern Africa, despite some declines in South Africa, prices remained well above their year-earlier values, reflecting tight supplies and poor 2016 production prospects. In West Africa, in Nigeria, sharp price increases continued mainly due to the depreciation of the national currency. In South America, currency weakness in several countries maintained upward pressure on cereal prices, which remained at relatively high levels, particularly in Argentina and Brazil. In Colombia, the depreciation of the national currency coupled with this year’s unfavourable production outlook pushed prices of rice to record highs in Ma rch.
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    International prices of wheat and coarse grains surged in March as the reduced exports from the Russian Federation and Ukraine worsened already tight global availabilities. Contrasting trends were evident across the market segments for rice, but overall, prices moved little in March. Across most of West Africa, prices of coarse grains continued to increase and were significantly higher year on year, amid lower cross-border trade flows and higher international prices of maize. Additional price support came from reduced outputs in the Sahel as well as from solid export demand in the coastal countries. In East Africa, prices of coarse grains remained firm or increased in March and were generally well above their year-earlier levels. Exceptionally high prices prevailed in South Sudan and the Sudan. In Far East Asia, in Sri Lanka, prices of rice and wheat flour continued to increase in March to new highs due to the depreciation of the national currency and the below-average 2022 “Maha” crop output. For wheat, the firmness in international markets provided additional support. In South America, prices of wheat continued to rise in March to levels ranging from 25 to 75 percent higher year on year, to reach record highs in some countries. The high price levels are due to strong international demand in exporting countries and elevated international quotations in net-importing countries.

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