Food Price Monitoring and Analysis (FPMA) Bulletin #10, 13 December 2023
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FAO ;
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International cereal prices continued their downward trend in November. Seasonal harvest pressure contributed to the decline in world prices of coarse grains and wheat. The FAO All Rice Price Index remained stable month-on-month, amid contrasting price trends across origins and market segments. In most countries monitored by FAO, annual food inflation remained elevated in November, with domestic staple food prices registering higher levels year-on-year. Multiple concurrent shocks, including conflict, insecurity and extreme weather events linked to the prevailing El Niño phenomenon, have continued to constrain food production and marketing activities in some countries. Macroeconomic difficulties, such as currency, weakness remained a compounding factor underlying the high food price levels, particularly in net food importers.