Global Price Watch: February 2022 Price (March 2022) – World
In West Africa, cereal prices have increased due to below-average agricultural production, persistent insecurity in the Sahelian countries, strong export demand, depreciation of local currencies and reduction in cross-border trade. The prices of imported and processed products such as rice, wheat flour, vegetable oil, dairy products and sugar have also increased. Prices in the region remained well above the previous year and the five-year average.
In East Africa, staple food prices remained stable or declined slightly in most markets due to the October-December harvest supply. However, staple food prices increased in Tanzania as stocks tightened ahead of the next harvest in May and in Sudan due to above-average production costs. A below-average harvest and high inflation supported above-average prices in most markets. Global supply constraints, rising global fuel and transport costs, conflict and localized currency depreciation have led to price spikes in rice, vegetable oil and wheat flour imported into the region. most of the region.
In Southern Africa, maize prices increased seasonally in most markets, reflecting the onset of the lean season, characterized by reduced maize grain volumes in local markets and an upward movement in prices. Tropical Storm Ana has also severely affected agricultural production in Malawi, Madagascar and Mozambique. Rising fuel and energy prices continued to drive inflation across much of the region.
In Central America, markets were adequately supplied with local and imported staple foods as well as carryover stocks. Although formal and informal imports from Mexico continued to satisfy regional consumption, the level of exports from Mexico was below average due to rising commodity prices in Mexico. The increase in supply compared to the average apante harvest from January to February was not enough to compensate for the losses of white corn and bean crops in Honduras and Nicaragua due to the below-average postrera 2021 season. .
In Central Asia, availability and prices of staple grains (wheat) remained stable, but above the previous year and the five-year averages in all countries, amid growing concerns over diesel prices. In Afghanistan, Kazakhstan, Pakistan and Yemen, wheat prices remained stable thanks to good monetary conditions and seasonality. In Yemen, fuel shortages have led to price hikes that have hit areas controlled by the Sanaa-based authorities (SBA) the hardest.
International staple food markets were adequately supplied. Corn and wheat prices rose on geopolitical tensions that helped make commodity markets even more volatile. Government efforts to mitigate these risks will be key to watch.