Food Price Monitoring and Analysis (FPMA) Bulletin #6, 13 July 2021

FAO

Food Price Monitoring and Analysis (FPMA) Bulletin #6, 13 July 2021

Monthly Report on Food Price Trends

Year of publication 2021

Place of publication Rome, Italy ;

Pages 18 p.

Author FAO

Publisher FAO ;

Product type Journal, magazine, bulletin

Series title FPMA Bulletin

Series number jun/21

Edition 1

Full item page

Synopsis (short abstract) Export prices of grains declined in June, influenced by generally good supply prospects, while international rice prices also fell as high freight costs and container shortages limited sales. In East Africa, prices of coarse grains continue at exceptionally high levels in the Sudan and South Sudan, underpinned by insufficient supplies and severe macro-economic difficulties. Prices reached new record highs in the Sudan following a further depreciation of the national currency on the parallel market and the lifting of fuel subsidies, which inflated transport costs. In West Africa, seasonal upward trends in prices of domestically produced coarse grains continued in June in most countries, exacerbated by supply chain bottlenecks stemming from measures still in place to contain the COVID-19 pandemic, as well as compromised security conditions in some parts, amidst solid domestic demand. As in previous months, in several markets, prices were significantly higher than a year earlier.

Language English

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International prices of grains increased overall again in May although they began to fall towards the end of the month on improved production prospects. International prices of rice held steady in May, with logistics problems and high shipping costs keeping trading activity subdued throughout the month. In East Africa, prices of coarse grains remained at near-record to record levels in the Sudan and South Sudan, underpinned by insufficient supplies and severe macro-economic difficulties, including currency weakness sustaining food inflation. Prices of maize grain in South Africa climbed moderately in May and remained up on a yearly basis, as the effects of higher prices on the international market have outweighed downward pressure from a substantial maize crop estimated for 2021. In South America, prices of yellow maize increased further in the key producing countries, Argentina and Brazil, remaining well above their year-earlier levels reflecting upward pressure from record export sales and adverse dry crop conditions, respectively. Markets in both countries were also supported by the strong upward trends in international price quotations.