Maize Prices Decline from Near-Record Highs
Updated at 1349898112

The GIEWS Global Food Price Monitor, released today, has seen a slight decline in international maize prices from their near-record highs in August. However, the report also cites increasing global rice export prices, as well as strengthening wheat export prices. Domestic wheat prices in several regions (Asia, CIS, and South America) also rose in September, reflecting higher prices in international and regional export markets.

Regionally, staple food (maize, sorghum, and millet) prices in both Western and Eastern Africa declined from record highs in September. These declines can be attributed to good seasonal harvests. Despite these declines, prices in the region continue to be high. In particular, in South Sudan, overall prices were 50% higher in September than prices at this time last year.

Far East Asia saw increases in domestic rice prices among exporting countries in September, due mainly to strong export demand. Thai White Rice 100% B, the international benchmark rice price, increased 3% from August; these levels remain below the highs seen in September 2011, however.