Attachments
Summary of Key Findings
In March 2023, the cost of the WFP basic food basket (BFB) was USD 25.5/person/month, which is a 2.9% decrease compared to the previous month (month-on-month, MoM). However, it was 2.5% higher than in the same month in the previous year (year-on-year, YoY). The cost of the BFB in rural areas was USD 24.4, a 4.3% decrease MoM, while in urban areas it was USD 26.3, a 1.1% decrease compared to the previous month.
During March 2023, the prices of most food items in the basket remained stable with only slight variations (within ±5.0% MoM).
This can be attributed to a decrease in the prices of fuel and agricultural inputs. However, the price of certain food commodities, such as snakehead fish (+14.4% YoY), morning glory (+13.4% YoY), and sweet potatoes (+26.4% YoY), have experienced significant long-term increases, and their prices remain considerably higher than in the same period last year.
Wet- and dry seasons paddy production in 2022/2023 was about 11.62 million MT; of which, about 6.3 million MT of paddy production are estimated to be a surplus to domestic requirement.
Market functionality improved slightly in March 2023, driven by the increase in predictability of prices and physical availability for essential commodities.