Global Price Watch: March 2022 Price (April 2022) – World
In West Africa, commodity prices rose and remained well above last year and five-year averages. Reduced production and disruptions related to insecurity in the Sahel, strong export demand in coastal countries, cross-border trade restrictions across the region, lingering effects of COVID-19, rising international prices, soaring transportation costs and currency depreciation were the main driving factors. behind these abnormally high price levels. (page 3)
In East Africa, price trends were mixed, increasing in Uganda, Sudan and parts of Ethiopia due to tight stocks due to below-average production and insecurity, which affected market functioning . Staple food and livestock prices remained well above last year and five-year averages, particularly for Sudan, southern Somalia and southern Ethiopia due to below-average production. average, high international wheat and flour prices, high transport costs, local currency depreciation and inflation. Livestock prices remained stable but high in many markets due to high input costs. (page 4)
In South Africa, commodity prices increased seasonally in most markets. The effects of soaring global food and fuel prices put upward pressure on prices, while the easing of COVID-19 related restrictions eased supply constraints. Below average rainfall was recorded over most of the region. Currency depreciation also continued across much of the region. (Page 5)
In central America, the markets were adequately supplied and functioned normally. Maize prices increased seasonally while bean and rice prices were stable. In Haiti, markets were well supplied and functioning normally except in Port-au-Prince due to civil insecurity. Local and imported products increased due to seasonality and local currency depreciation. (page 6)
In Central Asia, food prices remained stable in March, while Yemen saw price increases due to the disruption of trade with Russia and Ukraine. Wheat trade in the region, particularly in Kazakhstan, has been impacted by a Russian export ban on all grains, anticipating a shortage in downstream markets. Currency trends in the region have been divergent. In Yemen, the price of diesel has risen as markets shift to other sources of food imports. (Page 7)
**International markets **for basic foodstuffs are well supplied. Corn and wheat prices rose due to geopolitical tensions and rising freight and fuel costs. (Figure 2). Government efforts to mitigate these risks will be key to watch. (Page 2)
Comments are closed.