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Key Highlights:
In May 2024, the share of households with inadequate consumption of food reached 58 percent nationwide, with historic highs of 60 percent in southern Yemen under the internationally recognized Government of Yemen (IRG) and 57 percent in northern Yemen under the Sana’a-based authorities (SBA). The primary drivers of this crisis are worsening economic conditions in the south and the prolonged pause in food assistance in the north since December 2023.
The depth and severity of food deprivation (poor food consumption) also peaked in May, at 32 percent in the north and 31 percent in the south. This trend significantly worsened in the north, increasing by 78 percent year-on-year, compared to a 52 percent increase in the south. Severe food deprivation reached an all-time high in Al Jawf, Al Bayda, Hajjah, Amran, and Al Hodeidah.
By the end of May 2024, the Yemeni riyal (YER) depreciated to an all-time low of YER 1,749/USD in IRG-controlled areas, losing around 25 percent of its value against the US dollar year-on-year, due to low foreign currency reserves and reduced crude oil export revenue. In contrast, the YER exchange rate in SBA areas remained relatively stable at YER 528/USD. However, a banking crisis is looming, as a transaction ban has been announced between IRG and SBA.
The total volume of fuel imported via the Red Sea ports increased by 32 percent during Jan-May 2024 compared to the same period in 2023. Conversely, fuel imports via the southern ports of Aden and Mukalla decreased by 41 percent year-on-year.
Pump prices for petrol and diesel remained at elevated levels in IRG-controlled areas during May 2024, with annual increases of 24 percent and 21 percent, respectively. This is largely due to the ongoing currency depreciation in the south.
The Red Sea ports saw a 35 percent annual rise in food imports during Jan-May 2024, while the southern ports of Aden and Mukalla exhibited a 16 percent annual decline. Essential food items were available across Yemeni markets in May 2024, however food remained beyond reach for the most vulnerable due to reduced purchasing power.
In May 2024, the global FAO Food Price Index (FFPI) rose by one percent compared to the previous month but remained three percent lower than the level in May 2023. The FAO Cereal Price Index increased by six percent month-on-month, largely due to growing concerns about unfavorable crop conditions for the 2024 harvests in key producing areas.
A one-off food distribution took place in May, targeting the most vulnerable people in eight priority districts in Hajjah and Al Hodeidah governorates. Post distribution monitoring has revealed that food security subsequently improved significantly for beneficiary households in these districts.
In May 2024, the cost of the minimum food basket (MFB) reached a record high in IRG areas, showing a 13 percent year-on-year increase. This increase is primarily attributed to the price hikes of sugar (30 percent), vegetable oil (28 percent), wheat flour (12 percent), and red beans (eight percent). The depreciation of the currency and high fuel prices are key factors behind this tren