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Food policy monitoring in the Near East and North Africa, 3rd and 4th Quarter 2024 | Bulletin

Conflicts and Food Insecuirty









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    Global food prices have continued their downward trend in recent months, falling back almost a third from their peak in 2022 by February 2024. International wheat and corn prices have also eased, though they still remain above their pre-COVID levels; however, international rice prices have been climbing to new heights recently. Inflation continues to ease in most regional economies; the IMF (International Monetary Fund)forecasts a 14.4 percent inflation for the Near East and North Africa (NENA) region for 2024. Domestic staple food prices remain elevated in the region: the food consumer price index was approximately 11 percent at the beginning of March 2024. However, in most countries of the region, prices exhibit a steady or decreasing trend, with the exception of Jordan, Libya, Mauritania, Oman, the Sudan and the United Arab Emirates, where they exhibit a moderate acceleration.
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    The Quarterly Food Policy Monitoring Bulletin presents recent trends in international and regional commodity markets, food price developments, and regional crop situations. It also covers the recent food and trade policy measures adopted in countries of the NENA region. Each Bulletin has a focus topic that is strategic in enhancing food security and nutrition in the region. This quarterly issue focuses on Regional food safety challenges, strategies and actions.
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    The Russian Federation and Ukraine are among the most important producers of agricultural commodities in the world. Both countries are net exporters of agricultural products, and they both play leading supply roles in global markets of foodstuffs and fertilizers, where exportable supplies are often concentrated in a handful of countries. This concentration could expose these markets to increased vulnerability to shocks and volatility. Many countries of the NENA region are heavily dependent on imported foodstuff and fertilizers from Russia and Ukraine; and thus, the current conflict puts the region at risk of shortening of food supply from Russia and Ukraine as well as raising food prices as a result of the disturbances in post-COVID-19.

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