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FPMA Bulletin #4, 11 May 2021

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KEY MESSAGES

↗ International cereal prices followed mixed trends in April. Prices of maize increased mostly on tightening supplies, but those of wheat remained steady due to generally adequate export availabilities. By contrast, international prices of barley and sorghum fell slightly, while those of rice declined further on currency movements and slow trading activities.

↗ In East Africa, prices of coarse grains in the Sudan and South Sudan remained at near-record to record levels, underpinned by insufficient supplies and severe macro-economic difficulties, including local currency weakness sustaining food inflation.
Prices of cereals were at high levels also in Ethiopia, mainly due to the continuous depreciation of the country’s currency, which increased transportation and production costs.

↗ In West Africa, supply chain bottlenecks and difficult macro-economic conditions amplified the seasonal increases in the prices of coarse grains in Nigeria and sustained them well above their year-earlier levels, particularly in the northeast region where persistent conflict exacerbated the economic challenges. The year-on-year food inflation reached a nearly 16-year high of 23 percent in March 2021