Global Price Watch: June 2016 Prices (July 30, 2016)
In West Africa, market availability was good in June with supplies from above-average 2015/16 regional harvests, and international rice and wheat imports. Markets remained disrupted throughout the Lake Chad Basin and in parts of Central and Northern Mali. The recent depreciation of the Naira has led to price increases across Nigeria and reduced purchasing power for livestock in the Sahel (Page 3).
In East Africa, maize prices followed seasonal downward trends in surplus-producing Tanzania, supporting a steady flow of exports to regional markets. Despite the availability of well below average supply from production in Ethiopia in late 2015 and early 2016, staple food prices have remained stable with the availability of food through humanitarian assistance programs underway. The South Sudanese Pound was allowed to float in December, leading to a persistent depreciation of the local currency and reducing purchasing power. Markets remain disrupted by insecurity in South Sudan and Yemen (Page 4).
In Southern Africa, maize availability is well below average following a consecutive year of well-below average regional production. Production in Zambia is estimated as average, while South Africa did not produce enough to meet domestic requirements. Maize prices began to increase several months early in many areas and prices are well above-average levels across the region. Imports from outside of the region (likely from well-supplied international markets) will be required to fill the very large maize import gap (Page 5).
In Central America, regional bean supplies were average, while imports sustained stable levels of maize supplies. Maize and bean prices were atypically stable or increased. Locally produced bean and maize availability remained below average in Haiti, while imported commodity prices and availability remained stable (Page 6).
In Central Asia, wheat availability remained adequate region-wide and trade continued between surplus and deficit countries. Prices are below their respective 2015 levels in surplus-producing areas (Page 7).
International staple food markets remain well supplied.
Wheat and rice prices were stable, while maize and soybean prices increased in June (Figures 2 and 3). Crude oil prices increased but remained well below average (Page 2).