Food Price Monitoring and Analysis Bulletin #7, 9 September 2021

FAO

Food Price Monitoring and Analysis Bulletin #7, 9 September 2021

Year of publication 2021

Place of publication Rome, Italy ;

Pages 20

Author FAO

Publisher FAO ;

Product type Journal, magazine, bulletin

Series title FPMA Bulletin

Series number jul/21

Edition 1

Full item page

Synopsis (short abstract) International cereal prices followed mixed trends in August. Wheat prices surged as production prospects deteriorated significantly in several major producing countries. Among coarse grains, reduced production forecasts also boosted barley prices, while maize and sorghum prices continued to decline from their multi‑year highs reached in May. International rice prices remained on a downward trajectory in August, influenced by efforts to attract sales and by currency movements. In East Africa, prices of coarse grains generally increased in August, especially in countries where first/main season harvests dropped sharply. Prices were generally higher than one year earlier, with exceptionally high levels still prevailing in the Sudan and South Sudan. In West Africa, solid domestic demand amidst constrained market availabilities hindered by supply chain bottlenecks and locally volatile security conditions exacerbated seasonal upward trends in the prices of domestically produced coarse grains, which lingered at levels well above their year-earlier values.

Language English

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Prices of all major cereals increased in February. Wheat and coarse grain prices were pressured upward by supply uncertainties amidst potential disruptions to exports from the Black Sea Region. Crop condition concerns in South America continued to lend support to maize prices. Although international rice prices also edged up during February, they remained below their year-earlier levels. In most of West Africa, prices of coarse grains continued to increase and were at near-record levels. In the Sahel, prices were underpinned by reduced outputs and conflicts, while in the coastal countries, they were supported by strong export demand and currency depreciation. Reduced cross-border trade flows and higher international prices, particularly of maize, added upward pressure on domestic prices. In East Africa, prices of coarse grains followed mixed trends in February and were generally well above their year-earlier levels across the subregion. Exceptionally high levels prevailed in South Sudan and the Sudan. In Far East Asia, in Sri Lanka, prices of rice and wheat flour continued to increase, reaching record levels in February due to further depreciation of the national currency. Expectations of a below-average main “Maha” crop added to the upward price pressure in the case of rice, while upward trends in international markets provided additional support to wheat prices.