Food Price Monitoring and Analysis Bulletin

Food Price Monitoring and Analysis (FPMA) Bulletin #6, 10 July 2015

10/07/2015

Export prices of wheat and maize mostly increased in June on concerns about the impact on crops of unfavourable weather during the month in major producing countries. By contrast, international prices of rice weakened further, mainly because of weak import demand. In general, cereal prices in June remained well below their year‑earlier levels, reflecting the overall continuing positive outlook for this year’s production. In East Africa, maize prices in Kenya, the United Republic of Tanzania and Uganda declined in June, after sharp increases in the previous months, as a result of recent imports and the ongoing 2015 harvests, which are, however, expected at below‑average levels. In Southern Africa, maize price increases persisted in June in the main producer, South Africa, as markets continued to respond to the tighter supply outlook in the marketing year 2015/16, following the sharply‑reduced maize production this year. Elsewhere in the subregion, prices decreased seasonally, reflecting new supplies from the nearly‑completed 2015 harvests. In West Africa, strong increases in cereal prices were recorded in coastal countries in recent months, reflecting uncertain prospects for the 2015 first season crops, due to delayed rains, as well as depreciation of the national currencies. In Central America and the Caribbean, prices of maize generally increased in June and remained significantly above their year-earlier level. Prices of beans strengthened in most countries and in the Dominican Republic reached record levels, underpinned by a reduced 2014 harvest and low imports.

Food Price Monitoring and Analysis (FPMA) Bulletin #5, 10 June 2015

10/06/2015

International prices of wheat and maize in May averaged lower than in the previous month and were well below their year‑earlier levels, on account of the generally positive outlook for the 2015 crops. Rice quotations moved also downwards mostly due to slow export sales. In East Africa, in Kenya, the United Republic of Tanzania and Uganda, maize prices strengthened further in May, after spiking in April, and doubled their levels of three months ago in several markets. The recent increase in prices reflects uncertain crop prospects and strong regional export demand. In Southern Africa, prices increased in May in main producer, South Africa, despite the ongoing 2015 harvest, while declined elsewhere but at a lower-than-normal pace. Price support was provided by an anticipated sharply reduced regional output. Overall, maize prices were above their levels in May 2014.

Food Price Monitoring and Analysis (FPMA) Bulletin #4, 8 May 2015

08/05/2015

International prices of wheat declined in April as 2015 crop prospects in main exporting countries continued to improve. Maize prices remained unchanged, while rice quotations from most origins weakened mainly on account of subdued export demand. In exporter South Africa, domestic maize prices decreased in April, after strong gains since January, pressured by a combination of lower international prices and slightly improved 2015 production prospects. In southern countries of East Africa, maize prices rose sharply in April, with seasonal upward pressure exacerbated by reduced 2015 outputs in some areas and strong regional export demand. Prices, however, remained below their high levels a year earlier. In CIS importing countries, weak national currencies kept wheat flour prices high, particularly in Tajikistan. By contrast, in exporter Ukraine some recovery of the national currency contributed to a slowdown in export sales, which coupled with favourable 2015 crop prospects, pushed prices down, halting the sharp increases of the previous months. In Central America, prices of the main staple maize remained well above year-earlier levels in most countries, supported by low regional market supplies following drought-reduced harvests in 2014/15.

Food Price Monitoring and Analysis (FPMA) Bulletin #3, 10 April 2015

10/04/2015

International cereal prices remained under downward pressure in March. Overall, quotations were well below their year-earlier levels reflecting ample global supplies. Fluctuations in the exchange rates in March continued to influence cereal price changes in importing and exporting countries of CIS and South America. Weakening national currencies continued to push cereal prices to record levels in several countries or prevent significant price declines, while appreciating currencies put downward pressure on prices. In regional exporter South Africa, maize prices continued to increase in March, although at a slower rate, supported by an anticipated sharply reduced 2015 production. In Central America, prices of staples white maize and red beans lingered well above their year-earlier levels reflecting consecutive reduced harvests. In countries affected by the Ebola Virus Disease (EVD), Liberia, Sierra Leone and Guinea, prices of local and imported rice continued to remain mostly stable, driven by increased supplies from the 2014 harvests combined with subdued demand due to the impact of Ebola on economic activities and income.

Food Price Monitoring and Analysis (FPMA) Bulletin #2, 10 March 2015

10/03/2015

Export prices of wheat and maize continued to decline in February, as a result of ample world supplies and strong export competition. International rice quotations also remained under downward pressure. Cereal prices were significantly below their levels in February last year. The appreciation of the US dollar continued to support domestic cereal prices in February in both exporting and importing countries, notably in South America and Asian CIS. In South Africa, maize prices rose sharply in February reflecting a deterioration in prospects for the 2015 maize crop due to dry conditions. However, prices remained lower than their year‑earlier levels. In Central America, prices of food staples, white maize and red beans, showed mixed trends in February but remained well above their values of the corresponding period last year, supported by reduced subregional outputs.

Food Price Monitoring and Analysis (FPMA) Bulletin #1, 10 February 2015

10/02/2015

Export prices of wheat and maize declined in January reflecting large global supplies and favourable prospects for the 2015 crops. International quotations of rice continued to weaken with the completion of the 2014 main harvests. Overall, cereal export prices were below their year-earlier values.