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Food Price Monitoring and Analysis (FPMA) Bulletin #2, 10 March 2021

Monthly Report on Food Price Trends












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    International prices of maize surged in January amid shrinking global export supplies and large purchases by China (mainland). Prices of wheat and barley also increased significantly, supported by strong import demand. Export prices of rice increased for a second successive month reflecting robust demand from Asian and African buyers, combined with tight supplies in Thailand and Viet Nam, two major exporting countries. In East Africa, prices of coarse grains generally followed mixed trends in January. In most countries, prices were around or below their year-earlier levels, except in the Sudan and South Sudan, where despite some seasonal declines, they were still at near‑record highs, underpinned by insufficient supplies and severe macro-economic difficulties, including continuous and sustained depreciation of the local currencies. In Central America, despite the ongoing second season harvest, prices of beans increased further in January and were well above their year-earlier levels, especially in Guatemala, Honduras and Nicaragua, reflecting crop losses caused by the two consecutive hurricanes in November 2020.
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    International prices of wheat and major coarse grains increased further in November, reflecting continued strong global demand. However, rice values remained steady with support provided by tight availabilities and currency movements in selected South East Asian exporters countering limited demand and harvest pressure in other major origins. In East Africa, prices of coarse grains increased further in the Sudan and South Sudan in November, reaching record highs in several markets of both countries, underpinned by insufficient supplies and difficult macro-economic conditions, including a sustained depreciation of the national currencies. In West Africa, prices of coarse grains eased further in Nigeria with fresh supplies from the 2020 harvest but supply chain bottlenecks amid generally difficult macro-economic conditions sustained them well above their year-earlier values, particularly in the northeast where persistent conflict exacerbated the economic challenges. In Central America, prices of maize and beans increased, especially in Guatemala, Honduras and Nicaragua, hit hard by hurricanes Eta and Iota.
  • Thumbnail Image
    Journal, magazine, bulletin
    Food Price Monitoring and Analysis (FPMA) Bulletin #2, 10 March 2022
    Monthly Report on Food Price Trends
    2022
    Also available in:
    No results found.

    Prices of all major cereals increased in February. Wheat and coarse grain prices were pressured upward by supply uncertainties amidst potential disruptions to exports from the Black Sea Region. Crop condition concerns in South America continued to lend support to maize prices. Although international rice prices also edged up during February, they remained below their year-earlier levels. In most of West Africa, prices of coarse grains continued to increase and were at near-record levels. In the Sahel, prices were underpinned by reduced outputs and conflicts, while in the coastal countries, they were supported by strong export demand and currency depreciation. Reduced cross-border trade flows and higher international prices, particularly of maize, added upward pressure on domestic prices. In East Africa, prices of coarse grains followed mixed trends in February and were generally well above their year-earlier levels across the subregion. Exceptionally high levels prevailed in South Sudan and the Sudan. In Far East Asia, in Sri Lanka, prices of rice and wheat flour continued to increase, reaching record levels in February due to further depreciation of the national currency. Expectations of a below-average main “Maha” crop added to the upward price pressure in the case of rice, while upward trends in international markets provided additional support to wheat prices.

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