Global Price Watch: September 2014 Prices
In West Africa, staple food markets were well-supplied in September with carryover stocks and early grain, tuber, and legume harvests. Staple food prices were stable or declining, except in deficit areas of Niger, Chad, and Mauritania and conflict-affected areas of northeastern Nigeria. The Ebola outbreak has led to both official and voluntary restrictions on the movement of goods and people in affected countries, resulting in atypical market trends in some areas.
In East Africa, maize prices continued to decline in Tanzania, Kenya, Uganda, and surplus-producing areas of Ethiopia and Somalia as supplies from harvests and regional trade flows improved market availability. Sorghum prices remained stable in eastern Ethiopia and conflict-affected areas of eastern and northern South Sudan ahead of upcoming harvests, but declined in parts of Somalia and Sudan where early grain harvests were underway. Civil conflict, insecurity and seasonal road condition deterioration continued to disrupt markets parts of South Sudan, Somalia, Darfur and South Kordofan States in Sudan. Livestock prices increased in Ethiopia and Somalia ahead of the Hajj.
In Southern Africa, regional staple food availability is higher than in previous years. Harvests from the 2013/14 production year were well-above average in the region’s surplus-producing countries. Staple food prices remained stable or began increasing in September. Maize prices were generally below their respective 2013 levels.
In Central America, staple food prices followed seasonal trends in September, remaining stable or decreasing with the conclusion of recent harvests. After increasing atypically between December and August, red bean prices declined in Central America in September. Imports helped to offset production losses from the prolonged drought that occurred throughout the region from June to August. Local and imported rice prices remained stable throughout the region.
In Central Asia, wheat availability remained good region-wide in September. Prices were stable, but above their respective five-year average levels.
International rice and wheat prices were stable in September while global maize and soybean prices decreased. Global production for most key commodities reached record or near record levels this year, making for very well supplied global markets. Crude oil prices decreased gradually between July and September.