Global Price Watch: November 2021 prices (December 31, 2021) – Worldwide



KEY MESSAGES

• In west Africa, market supplies increased with the current harvest, but remained below average due to relatively lower carry-over stocks and production compared to 2020/21. Demand remained above average due to an increase in restocking as well as institutional and industrial purchases. Prices declined seasonally from the previous month but remained above average. Trends in supply and demand, depreciation of national exchange rates in some countries, and rising transportation costs will keep prices above average for both local and imported products.

• In East Africa, prices increased in most markets in Tanzania, Uganda and Burundi as supplies tightened ahead of the December to January harvest. Prices have fallen in markets in the main producing regions of Kenya, Ethiopia, Uganda and South Sudan due to the harvest in progress from October to January. However, prices were abnormally stable or increased in south-eastern Ethiopia, north-eastern Uganda, rural areas in South Sudan and Somalia due to below average production, disruption of trade and currency depreciation.

• In Southern Africa, markets and the milling sub-sector were well supplied with maize following above-average production in the 2020/21 production year. In November, prices followed stable seasonal trends and remained lowest in Malawi and South Africa, supporting exports to the region and beyond. Plantings for the 2021/22 production season have been delayed in localized areas due to agro-climatic conditions. High fertilizer costs can restrict production, especially in South Africa. While firm international commodity prices supported regional export earnings, many regional currencies continued to depreciate.

• In central america, although the markets are well supplied and functioning normally, prices remained high compared to 2020 and at average levels. Maize prices have remained stable after the primera harvests, while local bean prices have increased atypically due to a combination of rising transport costs, erratic rainfall and government purchases. In Haiti, fuel shortages, political unrest and insecurity continued to disrupt business activities.
The constraints of the marketing system, especially to and from Port-au-Price, have pushed up the prices of local and imported commodities.

• In Central Asia, wheat prices were stable or increasing at • International staple food markets remained well supplied. Rice and corn prices remained stable while wheat prices continued to rise to already high levels. Global crude oil and fertilizer prices, as well as transportation costs, hit five-year highs in October.

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