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West Africa

Prices of coarse grains remained higher on a yearly basis in several countries

12/07/2024

Prices of coarse grains remained stable or increased in May and June 2024 in many markets in countries of the Sahel and along the Gulf of Guinea. In some countries of the subregion, prices of coarse grains remained higher on a yearly basis.

 

In Mali, wholesale prices of both sorghum and millet recorded seasonal increases in most markets in June 2024, although in few markets, prices remained stable. Prices of sorghum and millet declined only in the market of Tombouctou, reflecting the delivery of food assistance by the government and humanitarian organizations. Prices of sorghum and millet were near or above their year-earlier levels in June, registering increases of up to 23 and 49 percent, respectively. The elevated prices of cereals were underpinned by various factors, including high production and transport costs, local production shortfalls in 2023, and strong domestic and export demand. In Burkina Faso, wholesale prices of millet and sorghum remained stable in many monitored markets in June, however, in few markets, they registered increases. Prices of millet and sorghum were near their year-earlier levels in many markets, reflecting a generally adequate market availability of cereals, supported by the delivery of humanitarian assistance for internally displaced persons and host populations, as well as the sale of subsidized cereals by the government. However, in some markets, prices were higher year-on-year, with increases of up to 16 and 20 percent, respectively, being registered for millet and sorghum, mostly reflecting strong local demand and conflict-related market disruptions. In the Niger, wholesale prices of millet and sorghum followed mixed trends in June, when they were up to 38 and 67 percent, respectively, higher than a year earlier. The high prices of millet and sorghum were mostly supported by low market supply due to the below-average cereal output in 2023, conflict-related market disruptions and reduced cereal imports from neighbouring countries. In Chad, retail prices of maize showed mixed trends, while prices of sorghum and millet recorded increases in May. Prices of coarse grains were near or above their year-earlier values, reflecting low supply due to 2023 cereal production shortfalls, high transport costs and reduced cereal imports from Libya, Nigeria and the Sudan, coupled with strong local demand.

 

In Senegal, the national average retail price of millet decreased in May, while the prices of maize and sorghum were stable. Prices of coarse grains were below their year-earlier levels, underpinned by the above‑average 2023 cereal output. In Benin, retail prices of sorghum were stable or rose in May, but prices of maize declined across the country, following the government’s decision, on 8 May 2024, to implement a temporary ban on the export of basic food commodities, including maize, rice, millet and sorghum. However, prices of both sorghum and maize remained generally at elevated levels in May, in particular, the prices of maize were significantly higher year-on-year, being between 20 and 57 percent. In Togo, retail prices of both maize and sorghum registered seasonal increases in May, when they were at or near their year-earlier levels. In Nigeria, wholesale prices of maize, millet and sorghum were stable or increased across the country in May. Prices of coarse grains remained more than twice their levels of a year earlier. Wholesale prices of local and imported rice showed mixed trends in May, and they were about double their year-earlier values. A weak currency, conflict-related market disruptions and high transport costs kept cereal prices at high levels. In addition, strong local demand, combined with a reluctance of traders and farmers to release stocks due to unfavourable rainfall conditions in some areas at the start of the 2024 rainy season, supported the high cereal prices.