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FPMA Bulletin #5 , 15 June 2022

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International wheat prices increased in May in response to India’s announcement of a wheat export ban, amid global supply concerns fuelled by reduced 2022 production prospects as well as disruptions to shipments due to the war in Ukraine. By contrast, international prices of coarse grains eased, as maize harvests in Argentina and Brazil, along with slightly improved crop conditions in the United States of America, alleviated the pressure on markets. Rice prices increased for the fifth successive month in May, amid generally upbeat demand. Based on latest available data, FAO analysis indicates that the number of countries across the globe facing exceptionally high levels of food prices increased sharply in May. Many cases, while originating from reduced domestic supplies, national macroeconomic difficulties and/or localized insecurity, are being exacerbated by the impact of the war in Ukraine on international food, fuel and fertilizer markets.