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February 2022 Global Price Watch

  • Price Watch
  • Global
  • February 4, 2022
February 2022 Global Price Watch

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  • Key Messages
  • Key Messages
    • In West Africa, staple food prices in most areas remained substantially above the five-year average due to below-average production, lower carry-over stocks, conflict-related disruptions, and atypically high demand because of the rapid depletion of stocks. Trade flows remained below average due to insecurity, COVID-19 related border restrictions, and national restrictions to cereal outflows. Depreciation of national currencies and higher transport costs additionally pushed up prices across the region.

    • In East Africa, staple commodity prices remained seasonally stable across most markets in Kenya, Uganda, Sudan, and Ethiopia because the October to January harvest, while below average, has been supplying markets in sufficient quantities. Prices decreased in Burundi due to fresh supplies from the January harvest but increased in Somalia due to three consecutive seasons of significantly below-average harvest. Livestock prices remained mixed depending on rangeland conditions and herd size. Poor macroeconomic conditions supported elevated staple food prices across the region. Poor rangeland conditions placed downward pressure on livestock prices across the region.

    • In Southern Africa, maize prices increased across the region as the peak of the lean season - characterized by shortages of maize grain in markets and at the household level - set in. However, ample domestic stocks from surplus producers helped buffer the upward seasonal trend and mitigate pressure from rising international demand. Below-average rainfall was recorded across most of the region. Currency depreciation continued across much of the region.

    • In Central America, markets were well supplied with local and imported staple foods. Both formal and informal trade from Mexico was stable. White maize wholesale and retail prices showed mixed trends while red bean prices increased on average. In Haiti, prices of imported staple commodities were stable due to stability in the foreign exchange rate. 

    • In Central Asia, wheat supply and price trends varied across the region in January. Staple commodity prices increased in Kazakhstan and Afghanistan but were stable in Pakistan and Uzbekistan. In Yemen, staple food prices varied as macroeconomic conditions and conflict continued to put upward pressure on prices.

    • International staple food markets are well supplied. In January, rice, maize, and wheat prices were stable. However, geopolitical tensions have contributed to more volatile commodities markets. Government efforts to mitigate these risks will be essential to monitor.

    Price Watch offers a monthly summary and outlook on global, regional and national trends of key commodity prices in FEWS NET countries. Analysis may touch on global issues, such as fuel prices or exchange rates, if they are likely to influence staple food prices in FEWS NET countries. The accompanying Price Watch Annex details price trends by country.

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