Food Price Monitoring and Analysis (FPMA) Bulletin #8, 12 October 2022
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FAO ;
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International cereal prices increased in September. The month-on-month increase in international wheat prices mostly reflected uncertainty regarding Ukraine’s exports past November, unfavourable weather conditions in the United States of America and higher pressure on supplies in the European Union. World maize prices increased marginally due to upward pressure from tighter supplies, dry conditions and uncertainty regarding Ukraine’s exports. International rice prices increased, mostly in response to export policy changes in India and concerns about the impacts of the heavy flooding in Pakistan. FAO’s most recent analysis of domestic food prices continues to show widespread extremely high levels of food price inflation in September, particularly among low-income food-deficit countries. The persistent upward pressure on domestic food prices, particularly for imported food items, remains underpinned by reduced domestic supplies of some commodities, national macroeconomic difficulties, currency depreciation, poor weather conditions, localized insecurity as well as near-record to record high energy and fertilizer prices.