FPMA Bulletin #8, 11 September 2017

Abstract

International prices of wheat dipped in August, after increasing in the past few months, following an upturn in production prospects in the Black Sea region which improved the 2017 global supply outlook. Maize quotations also fell on improved weather conditions and abundant global supplies. International prices of rice were relatively stable, although price movements were mixed across the different rice market segments. In East Africa, prices of cereals generally continued to decline with the n ew harvests. The main exception was Ethiopia, where prices increased further at a fast pace, underpinned by the poor performance of the secondary season harvest and concerns over the main season crop, soon to be gathered. In Asia, domestic prices of rice decreased or remained relatively stable in August, amid generally favourable prospects for the 2017 paddy crops, about to be harvested, and a slowdown in demand. In Bangladesh and Sri Lanka, despite recent decreases, prices remained higher than a year earlier, mainly due to weather-related losses of main season crops, gathered earlier in the year.