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- In West Africa, staple prices were stable or increased seasonally in August amid the peak of the lean seasonal and strong market dependence. Prices increased substantially in Nigeria due to a deteriorating macroeconomic environment marked by sharp inflation; and in Niger following the military takeover of power and subsequent ECOWAS-led economic and trade sanctions, including the closure of borders.
- In East Africa, maize prices declined seasonally in most key reference markets in Kenya, Uganda, Somalia, and parts of South Sudan due to increased supply from the June-to-August harvest, whereas prices increased seasonally across most markets in Tanzania, Sudan, parts of South Sudan, Ethiopia, and Burundi as supplies tightened. Food prices remained above average in most countries because of persistent local currency depreciation, supported in some countries by conflict-related disruptions.
- In Southern Africa, maize prices were mixed. While prices decreased in most markets in South Africa and Zambia following strong harvests, increased export demand put upward pressure on prices in Tanzania. Prices increased atypically in Malawi, where the impacts of a below-average summer harvest were amplified by currency depreciation, increasing the cost of imports. Currency depreciation in Zimbabwe and DRC related to increased public spending drove price increases in maize-deficit markets.
- In Central America, maize prices were stable in August, except for Nicaragua, where adverse climatic conditions and uncertainty over the primera harvest pressed prices upwards. Black bean prices were stable, and red bean prices declined in Honduras and El Salvador. In Haiti, local yellow maize and imported food prices were stable due to improved availability and currency stability, while insecurity continued to disrupt market function in metropolitan Port-au-Prince and Artibonite. In Venezuela, cereal prices marginally increased, supported by lower VED volatility.
- In Central Asia, wheat prices remained stable in August in line with global trends, balanced by improved market supply due to seasonal availability and above-average imports in net-importing Kyrgyzstan and Uzbekistan. In Afghanistan, wheat flour prices were stable and remained below the previous year, supported by an appreciating AFN. In Yemen, imported wheat flour prices were stable. In IRG areas, significant variations were driven by insecurity and rising fuel prices.
- International staple food markets were sufficiently supplied. Global staple food prices decreased due to seasonal supply increases, except rice, whose prices increased due to strong demand and export restrictions. Crude oil prices increased due to reduced supply, and fertilizer prices increased due to stronger demand. Prices were below the 2022 and above the five-year average.
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.