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Food Price Monitoring and Analysis (FPMA) Bulletin #8, 11 October 2023

Monthly report on food price trends












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    Food Price Monitoring and Analysis (FPMA) Bulletin #5, 14 June 2023
    Monthly report on food price trends
    2023
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    International prices of wheat and maize continued to decline in May, while rice prices increased further. The downward trend in wheat prices was mostly due to ample global supplies and subdued import demand, while an expected record crop in Brazil and higher production in the United States of America were largely behind the decline in maize prices. The extension of the Black Sea Grain Initiative also contributed to softening world prices. By contrast, international rice quotations continued their upward trend in May, as previous deals with Asian buyers were executed and supplies tightened in some exporters, such as Viet Nam and Pakistan. In most countries monitored by FAO, domestic staple food prices in May 2023 remained above their year‑earlier levels. Conflict and insecurity, adverse weather, high prices of agricultural inputs, elevated distribution costs as well as currency weaknesses continue to be the major drivers. Coarse grain prices remained considerably high in East and West Africa, while harvests eased the pressure on maize prices in Southern Africa and South America. In Eastern Europe, Caucasus and Central Asia countries and East Asia, ample stocks and supplies from ongoing harvests contributed to the softening of wheat and wheat flour prices. Meanwhile, in East Asia, domestic rice prices increased in major exporting countries despite harvest pressures weighing on prices in other countries of the subregion.
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    Journal, magazine, bulletin
    Food Price Monitoring and Analysis (FPMA) Bulletin #6, 12 July 2023
    Monthly report on food price trends
    2023
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    International prices of all major cereals declined in June. Seasonal supplies put downward pressure on both wheat and maize prices, with wheat harvests starting in the Northern Hemisphere and maize harvests continuing in the Southern Hemisphere. Rice prices also declined amid subdued demand for non-Indica rice and efforts to attract export sales in Pakistan. In most countries monitored by FAO, domestic prices of basic foods in June 2023 remained above their year‑earlier levels. High prices of coarse grains persisted in East and West Africa, while seasonal pressure supported declines in maize prices in Southern Africa and South America. In Eastern Europe, Caucasus and Central Asia countries and East Asia, ample carry-over stocks and new supplies from ongoing harvests are contributing to softer wheat and wheat flour prices. Meanwhile, in East Asia, domestic rice prices were generally stable across the subregion but increased in major exporting countries. Conflict and insecurity, adverse weather, high prices of agricultural inputs, elevated distribution costs as well as currency weaknesses continue to be the major drivers.
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    Journal, magazine, bulletin
    Food Price Monitoring and Analysis (FPMA) Bulletin #3, 14 April 2023
    Monthly report on food price trends
    2023
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    International prices of all major cereals declined in March. World wheat prices fell significantly, reflecting ample supplies, strong export competition and the extension of the Black Sea Grain Initiative (BSGI). A mix of factors, including ongoing harvests in South America, expected record output in Brazil and currency depreciation in Argentina, led to a decline in maize prices. International rice prices also eased in March, weighed by ongoing or imminent harvests in major Asian exporters. FAO’s analysis of the latest available data shows domestic staple food prices, despite some declines, continue to be very high in many countries in March 2023. Seasonal harvest pressures in parts of East Asia and ample availability of wheat from major exporters in the CIS (Asia and Europe) supported month‑on‑month declines in some staple food prices. Conflict and civil insecurity remained an underlying driver of food price increases in Haiti, and parts of East and West Africa, while weather related shocks were key contributing factors in parts of East and Southern Africa. In many countries, currency weaknesses and high transport costs continue to support elevated prices of both domestically produced and imported food commodities.

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