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July 2022 Global Price Watch

  • Price Watch
  • Global
  • July 31, 2022
July 2022 Global Price Watch

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  • Key Messages
  • Key Messages
    • In West Africa, staple food prices increased in June due to the early depletion of stocks from the below-average 2021/22 agricultural season, national restrictions on grain exports, and persistent insecurity negatively affected supply, particularly in the Lake Chad basin and in the Liptako-Gourma region. In the coastal countries of the Gulf of Guinea, atypically high prices were driven mainly by strong industrial and export demand, depreciating national currencies, and the sharp rise in import costs. Overall, staple food prices were well above 2021 levels and the five-year average due to high global fuel and transportation costs.

    • In East Africa, staple food prices increased in June in most markets in Uganda, Kenya, Somalia, Sudan, and some in South Sudan as supplies tightened. Prices remained stable in many markets in Ethiopia due to ample supplies and declined in Burundi and Tanzania because of local harvests. Livestock prices remained stable or increased slightly as livestock body conditions improved as a result of the May-to-June rains. Commodity prices increased due to below-average production and high fuel and fertilizer costs. 

    • In Southern Africa, maize price trends varied across countries. Maize prices decreased in South Africa and Tanzania, were stable in Zambia and Mozambique, and increased in Zimbabwe and areas of Malawi. Overall, though, prices were above average due to high transportation costs, reduced maize supply from the below-average harvest, and strong import demand. High energy prices continued to drive prices upward while currency depreciation continued across much of the region.

    • In Central America, markets operated normally and were adequately supplied with local and imported goods. White maize prices increased across most markets. In June, red and black bean prices rose in El Salvador and Nicaragua while rice prices remained stable. In Haiti, local staple food prices decreased due to improved availability from early harvests. However, insecurity constrained food and fuel supply in Port-au-Prince.

    • In Central Asia, staple food commodities such as rice, wheat grain, and oil followed seasonal trends but were significantly above average. Rising energy prices continued to increase pressure and uncertainty on rice and wheat markets. In Yemen, staple food commodity prices continued to increase in areas controlled by the International Recognized Government (IRG).

    • International staple food markets were sufficiently supplied. Maize and wheat prices decreased due to seasonal supply increases from harvests. However, concerns about market performance remained because of the effects of the war in Ukraine. Government efforts to mitigate these risks will be essential to monitor as well as the weather and its implications for crop development.

    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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