FEWS NET has released a new outlook report for West Africa/Sahel. The report states that crisis-level food insecurity is expected to continue in a number of areas in the region, based on current market prices, trade patterns, labor conditions, and social conditions. Chronic malnutrition is expected to rise above 15 percent.
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FAO has released its Food Price Index for January 2012. Global food prices rose nearly 2 percent in January, marking the first increase since July 2011. Despite this increase, food prices remain 7 percent lower than the same time last year. For cereals, maize saw the steepest rise last month, reflecting concerns over crop prospects in South America. Wheat also rose due to unfavorable weather events and depleting exports from Russia.
In recent days, the price for soft wheat has increased, as has its volatility. This increase in volatility has likely stemmed from reports that cold weather in Europe may damage crops, a fear that may in fact have been overstated. Reports from Russia about a potential new levy on wheat exports starting in April 2012 may have also played a part in this week's increased volatility.
FEWS NET has released its Food Price Watch for January 2012. The report details the food security situation throughout Africa, where prices in Uganda, Ethiopia, and Somalia have declined. Kenyan maize prices remain extremely high, as do prices in West Africa.
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Source: IFPRI-ImagesGIEWS has released crop prospect reports for maize for both Argentina and Mexico, citing deteriorating 2012 crop prospects due to recent dry weather. Despite this reduction, production in Argentina is still expected to be average. Mexican production is expected to be below the five-year average but still higher than the poor 2011 crop.
Download the report for Argentina.
Download the report for Mexico