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FPMA Bulletin #4, 11 May 2022

Attachments

KEY MESSAGES

↗ International prices of coarse grains fell in April as maize harvests in Argentina and Brazil helped ease pressure on maize markets. By contrast, wheat prices edged upwards as global supply tightness persisted amidst the significantly reduced exports from Ukraine due to war-related impacts on export supply chains. For rice, strong Asian demand and weather setbacks in the Americas drove international prices up during April.

↗ In West Africa, new record high prices of coarse grains were reported in several countries, driven by a seasonal uptick in demand, lower cross-border trade flows and higher international commodity prices. Conflicts in the Sahel and weak currencies in coastal countries added upward pressure on domestic prices.

↗ In East Africa, prices of coarse grains remained firm or increased further in April and continued to be well above their year-earlier levels across the subregion. Exceptionally high price levels continued to prevail in South Sudan and the Sudan.

↗ In Far East Asia, in Sri Lanka, prices of rice and wheat flour increased further in April to new highs mostly due to the sustained effects of precipitous currency depreciation and the below-average 2022 “Maha” crop output.

↗ In South America, prices of wheat in April remained significantly higher year on year and at record highs in some countries, owing to strong international demand in exporting countries and elevated international quotations in net-importing countries.