Monthly Market Update Bulletin # 60 Jan 2013

SUMMARY:

  • Grain prices continued a seasonal downward trend during December 2012 in most markets of Sudan. However, prices are still comparatively high despite the good harvest prospect of 2012/13’s agricultural season in Sudan due to the high cost of production and transportation caused by high inflation/local currency devaluation.

  • Onn average wholesale sorghum prices in December were relatively similar to November, and 140 percent higher the five-year average and 21 percent higher than the same period last year.

  • Millet wholesale prices in December were, on average, 5 percent lower than in November, 127 percent higher than the five-year average, and 22 percent higher than the same period last year.
    On average, wholesale wheat prices in December were 2 percent lower than last November and 130 percent higher than the five-year average.

  • Local sorghum prices were 6 percent lower than the export parity prices.

  • In December, the national inflation rate of food and non-food commodities was 44.4 percent. However, the food inflation rate of the same period is 46.3 percent.

  • Cereal prices are likely to maintain the current low prices until April/May 2013. The reported 1.5 million tons of surplus grain production of this year will support the government policy to export grain in 2013.