Food Price Monitoring and Analysis (FPMA) Bulletin #9, 13 November 2024
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FAO ;
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Global wheat and maize prices continued to increase in October 2024, influenced by unfavourable weather concerns in some main producing areas, transport disruptions and strong demand. By contrast, international rice prices declined, amid expectations of increased competition among exporters. FAO’s analysis of the latest available domestic food price data showed prices were below year-earlier levels, in September and October 2024, in parts of Central America and Far East Asia, owing to increased seasonal availability from harvests. Staple food prices remained high year-on-year in parts of East Africa, Southern Africa and South America due to tight domestic supplies, macroeconomic challenges and sustained demand. In West Africa, coarse grain prices hit new record highs in several markets as recent widespread flooding impeded the functioning of markets, further exacerbating existing food access challenges.