Food policy monitoring in the Near East and North Africa region. 4th Quarter 2022 | Bulletin
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FAO ;
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The FAO Food Price Index averaged 136.3 points in September 2022, down 1.5 points (1.1 percent) from August, although remaining still higher than a year before. Wheat and maize prices were 10.6 percent and 12.8 percent higher, respectively than a year before. In addition, natural gas prices were more than three times higher in August 2022 than a year ago, which has inflated fertilizer prices considerably as their production requires massive energy. Increased food, and fertilizer prices, slower growth, and currency fluctuations still severely strain food security, especially in the Near East and North Africa (NENA) region, which has a high reliance on international food markets and is highly exposed to global price surges. High international food prices increase import bills and negatively affect NENA countries’ trade balances and foreign exchange reserves.