Wholesale rice prices were mostly stable or increased month-on-month in October 2024, in line with reduced seasonal supply from the start of plantings in the subregion. In Brazil, wholesale prices of rice remained unchanged or increased moderately month-on-month across the markets in October, due to seasonal reduction of rice stocks as planting operations began in major producing areas. Prices were about 25 percent higher year-on-year across the markets, reflecting the below-average production in 2023. In Uruguay, wholesale rice prices rose seasonally for the fifth consecutive month, reflecting the reduced harvest owing to limited rainfall amounts. Rice prices were about 33 percent higher year-on‑year due to inadequate supply from the low 2024 harvest. In Paraguay, wholesale rice prices remained stable month-on-month in October with the beginning of the sowing season and were about 40 percent higher year-on-year, reflecting the limited supply from the 2023 production shortfalls. Wholesale rice prices in Ecuador were stable or declined month-on-month across the markets in October and were lower than one year earlier, on account of large availabilities from increased year‑on‑year imports from January to August 2024. In Colombia, where the main season harvest was finalized in October, wholesale rice prices were nearly stable or declined month-on-month across the markets and were almost unchanged compared to the previous year, reflecting adequate market supplies.

Wholesale wheat prices showed mixed trends in the subregion in October 2024. In Argentina, the major subregional wheat exporter, wholesale wheat prices decreased for the second month in a row in October and were double their previous year’s level, reflecting reduced supplies from two years of below-average harvests. In Uruguay, wholesale wheat prices increased for the fifth consecutive month in October, ahead of the start of the harvest in November. Prices were moderately below the previous year’s level, due to the ample availability from the large 2023 wheat outturn. In Chile, wholesale wheat prices registered seasonal increases for the second consecutive month in October, ahead of the start of the harvest in November. Wholesale prices of wheat were lower month-on-month in October in the Paraná and Rio Grande do Sul regions in Brazil, where market supplies are ample due to the ongoing harvest. Wheat prices remained between 30 and 45 percent above the previous year’s levels, due to limited stocks from the low 2023 output. Across the markets of Ecuador and Colombia, the main wheat importing countries of the subregion, wholesale wheat flour prices remained stable month‑on‑month in October, reflecting adequate market availabilities, but were lower than one year earlier, reflecting lower year-on-year international quotations for Canada, the United States of America and Argentina, the main exporting partners.

Wholesale prices of yellow maize were stable or increased seasonally in October 2024 in the subregion, as planting operations are ongoing in most countries. Across the markets of Brazil, wholesale prices of yellow maize continued to increase for the third consecutive month in October reflecting seasonal trends and tighter-than-expected supplies from the second crop harvest that ended in August. Prices were up to 20 percent higher than their low levels of one year earlier. In Argentina, where the main season plantings are underway, wholesale maize prices seasonally increased in October for the third month in a row and were about 115 percent above the previous year’s level, reflecting the strong and steady depreciation of the Argentine peso that started in December 2023, along with low availability from two consecutive below-average harvests in 2022 and 2023 due to severe crop losses from leafhopper infestations. In Colombia, wholesale yellow maize prices were stable month-on-month in October, reflecting adequate market supplies, and were significantly above their level of one-year earlier in Bogota market. In the Plurinational State of Bolivia, wholesale yellow maize prices were mostly stable in Oruro and Santa Cruz markets in October, due to the moderately improved supplies from the harvest which finalized in September, but increased for the second consecutive month in La Paz market. Prices were mostly higher than the previous year, reflecting reduced year-on-year imports in 2023 and 2024. Wholesale yellow maize prices in Uruguay increased moderately in October, in line with seasonal trends and were 16 percent lower than the year-earlier level, due to ample supplies from the above-average 2024 main season harvest. In Paraguay, wholesale maize prices moderately increased month-on-month in October, reflecting concerns over the negative effects of severe dry weather conditions in the main producing areas on the minor season crop, whose planting ended in October. Yellow maize prices were nearly unchanged year-on-year.