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January 2022 Global Price Watch

  • Price Watch
  • Global
  • January 31, 2022
January 2022 Global Price Watch

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  • Key Messages
  • Key Messages
    • In West Africa, market supplies were below average due to lower carryover stocks, reduced production in several countries, and reported stocks withholding by traders reportedly withholding stocks. Despite decreasing seasonally, demand remained above average due to increased replenishment of stocks. Prices remained above the five-year average across the region with fast depletion of stocks in the Sahel as well as demand pressure in coastal countries. Cross-border trade remained below average due to increased domestic demand. Conflict-related market disruptions persisted across parts of Mali, Burkina Faso, Niger, Nigeria, Chad, and Cameroon.

    • In East Africa, staple food prices were stable due to supplies from the October-December harvest and supported by regional trade. However, atypical, but seasonally sharp, price increases occurred in Burundi and Sudan due to expectations of below-average harvests. Below-average harvests and poor economic conditions put upward pressure on prices in South Sudan, Sudan, and Ethiopia. Livestock prices continued to decline in tandem with deteriorating body conditions due to poor rangeland conditions.

    • In Southern Africa, amid above-average regional maize stocks, maize prices increased seasonally due to strong international demand and weak domestic currencies. Domestic rice prices also increased seasonally, but consumers were cushioned by stable international prices. Rising food and energy prices contributed to drive up inflation across the region. 

    • In Central America, markets operated normally and remained well supplied with local and imported staple foods. White maize availability was average and relied on recent carryover stocks and imports. Below-average harvests due to drought conditions in Honduras and Nicaragua negatively affected the supply of beans. Formal and informal trade from Mexico decreased due to higher domestic demand and government purchases.

    • In Central Asia, wheat availability and price trends varied across the region in December. Staple commodity prices were stable in Pakistan, but increased in Kazakhstan, Afghanistan, and Yemen, where poor macroeconomic conditions and conflict continued to put upward pressure on prices.

    • International staple food markets are well supplied.  In December, rice, maize, and wheat prices were stable. Global crude oil and fertilizer prices, freight costs, as well as government interventions, will define the price trend in 2022.

    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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