February 2015 Price Watch

The Famine Early Warning Systems Network (FEWS NET) monitors trends in staple food prices in countries at risk of food insecurity. The Price Watch provides an update on market and price trends in selected reference markets.  Specific trends for key reference markets and commodities are available in the Price Watch Annexes 1 and 2. FEWS NET gratefully acknowledges partner organizations, ministries of agriculture, national market information systems, the Regional Agricultural Intelligence Network, the Food and Agriculture Organization of the United Nations (FAO), the World Food Programme (WFP), and others for their assistance in providing price data.

• In West Africa, regional harvests from the 2014/15 season arrived progressively onto markets in January. Staple food prices were stable or declining, except in areas directly and indirectly affected by the conflict in northeastern Nigeria. The recent opening of borders among Ebola-affected countries contributed to improved trade flows in some areas, following the substantial disruptions  that occurred over the second half of 2014.

• In East Africa, maize prices continued to decline in Tanzania, Kenya, Somalia, and surplus-producing areas of Ethiopia as harvests and regional trade flows improved market supplies. Sorghum prices declined in Somalia, Sudan, and Ethiopia, with the progression of average to above-average harvests. Staple food prices were high and variable in the Greater Upper Nile States of South Sudan. Conflict, insecurity, and seasonal road condition deterioration continued to disrupt markets in parts of South Sudan, Somalia, and the Darfur and South Kordofan States in Sudan.

• In Southern Africa, regional staple food stocks tightened in January, but availability remains higher than previous years. Harvests from the 2013/14 production year were well-above average in the region’s surplus-producing countries. Maize price increased by over 50 percent in January in flood-affected areas of southern Malawi.

• Staple food prices remained stable or began increasing throughout Central America and Caribbean as market supplies from the Otoño harvest in Haiti and Postrera harvest in Central America decreased earlier than normal. After reaching record-high prices in Central America in 2014, red bean prices followed seasonal trends and were stable in January but remained well above average. Imported wheat and rice availability and prices were stable region-wide.

• In Central Asia, wheat availability remained good in Afghanistan and Pakistan. Prices stabilized in increased in Kazakhstan and Tajikistan after increasing over the last quarter of 2014.

• International wheat, maize, and soybean prices were stable in January, while rice prices declined slightly. Global production for most key commodities reached record or near record levels in 2014, making for very well supplied global markets. Crude oil prices declined further in January, and remained below average.