Food Price Monitoring and Analysis (FPMA) Bulletin #5, 12 June 2017

Year of publication2017

AuthorFAO

PublisherFAO

AbstractInternational wheat prices followed mixed trends in May, increasing in North America and the European Union due to unfavourable weather developments but down slightly in the Black Sea region and Argentina. Export prices of maize remained generally unchanged, while rice quotations were underpinned by strong demand. In Asia, rice prices rose sharply to record highs in Bangladesh, reflecting tighter supplies due to reduced production and imports in 2016, along with flood‑related damages to the 2017 main season crop. Rice price increases were also recorded in the main exporting countries, while they remained relatively stable elsewhere. In East Africa, cereal prices continued to rise in several countries in May, reaching record to near-record levels. Seasonal patterns were exacerbated by reduced supplies from the drought-affected 2016 second season outputs and by uncertain prospects for the upcoming 2017 harvests due to poor rains and crop pests. In West Africa, coarse grain prices increased seasonally in May and reached levels above those a year earlier, particularly in Niger, due to localized production shortfalls last year and reduced imports. In Nigeria, the substantial depreciation of the local currency continued to underpin food prices, with further support provided by high transport costs and insecurity.

 

Product typeJournal; magazine; bulletin

SeriesFood Price Monitoring and Analysis (FPMA)

RegionGlobal

ISSN2707-1960

Areas of workGlobal Information and Early Warning System

KeywordsFood prices; market prices; prices; retail prices; wholesale prices; early warning systems; world; cereals; maize; wheat; millets; rice.