Food Price Monitoring and Analysis (FPMA) Bulletin #4, 10 May 2023
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FAO ;
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International prices of wheat and maize declined in April 2023 while rice prices increased. Ample supplies, strong export competition and generally favourable crop conditions in the European Union weighed on wheat prices, while ongoing harvests in South America underpinned the decline in maize prices. Rice export quotations reversed most of the declines that they registered in March 2023.
Domestic staple food prices were generally sustained at higher year-on-year levels in April 2023, in most of the countries monitored by FAO, attaining record highs in some cases. Conflict and insecurity, adverse weather and currency weaknesses remain key drivers. However, on a month‑on‑month basis, seasonal harvest pressures eased some staple food prices in parts of South America, Southern Africa, East Africa and East Asia, while high levels of wheat stocks continue to support softening wheat and wheat flour prices in CIS (Asia and Europe).