FPMA Bulletin : Monthly Report on Food Price Trends, No. 7, 10 August 2015

Abstract

International prices of maize increased for the second consecutive month in July, with the negative impact of excessive rains on crops in the United States of America in the first half of the month underpinning prices. By contrast, export prices of wheat from the United States of America declined slightly with 2015 production prospects still favourable overall, while quotations from other origins strengthened slightly. In West Africa, uncertain prospects for the 2015 crops, due to delayed rains , and the depreciation of the national currencies continued to underpin cereal prices in some coastal countries. In Southern Africa, strong price gains for maize were recorded in July, particularly in Mozambique and South Africa, where prices were well above their year-earlier levels. In general, prices in the subregion are supported by a sharply reduced 2015 regional production. In Central America and the Caribbean, prices of white maize increased sharply in July and remained significantly abo ve their year-earlier levels in most countries of the subregion. Prices were underpinned by concerns about prospects for the 2015 main season harvests following dry weather associated with the El Niño phenomenon.