Global Price Watch: March 2022 Prices (April 2022)

  • In West Africa, staple commodity prices increased and remained significantly above last year and the five-year averages. Reduced production and insecurity-related disruptions in the Sahel, strong export demand in coastal countries, cross-border trade restrictions across the region, lingering COVID-19 impacts, higher international prices, surging transport costs, and depreciation of currencies were the main driving factors behind these atypically high price levels. (Page 3)
  • In East Africa, price trends were mixed, increasing in Uganda, Sudan, and parts of Ethiopia due to tightening stocks from below-average production and insecurity, which negatively affected market functionality. Prices for both staple foods and livestock remained significantly above last year and the five-year averages, particularly for for Sudan, southern Somalia, and Southern Ethiopia due to below-average production, high international wheat and flour prices, high transportation costs, local currency depreciation, and inflation. Livestock prices remained stable but elevated in many markets due to high input costs. (Page 4)
  • In Southern Africa, staple commodity prices increased seasonally across most markets. The impacts of surging global food and fuel prices put upward pressure on prices, while the relaxation of COVID-19 restrictions eased constraints on supply. Below-average rainfall was recorded across most of the region. Currency depreciation continued also across much of the region. (Page 5)
  • In Central America, markets were adequately supplied and operated normally. Maize prices increased seasonally whereas beans and rice prices were stable. In Haiti, markets were well-supplied and operated normally except in Port-au-Prince due to civil insecurity. Local and imported products increased due to seasonality and local currency depreciation. (Page 6)
  • In Central Asia, food prices remained stable in March, while Yemen experienced price increases due to disrupted trade with Russia and Ukraine. Wheat trade across the region, notably in Kazakhstan, was impacted by a Russian export ban on all cereals, anticipating a shortage in downstream markets. Currency trends across the region were divergent. In Yemen, the price of diesel spiked while markets shift to alternative sources of food imports. (Page 7)
  • **International **staple food markets are well supplied. Maize and wheat prices increased due to geopolitical tensions and higher freight and fuel costs. (Figure 2). Government efforts to mitigate these risks will be essential to monitor.

Source: Famine Early Warning System Network

Leave a Reply

Your email address will not be published. Required fields are marked *