The national average maize grain price dipped seasonally in June 2024 for a third consecutive month, but still remained close to the record high of March. On a yearly basis, prices were 73 percent higher. These elevated levels are largely due to a nearly 50 percent drop in domestic production compared to the five-year average, on account of the impact of an intense and widespread drought that affected the main producing areas. On top of the tight domestic supply situation, a weak currency is providing additional upward pressure, and supporting double-digit inflation rates.