What's New

International export prices of wheat and maize remained stable but high in November , according to the latest GIEWS Global Food Price Monitor. International rice prices were somewhat mixed but generally lower than November 2011.

Asia is home to more than two-thirds of the world's poor and hungry. And as populations around the world continue to grow, the region's most vulnerable people will be faced with even greater challenges in the coming decades. Climate change and unsustainable resource use are likely to impede agricultural productivity, exacerbating already high and volatile food prices and presenting significant barriers to poor populations' access to affordable food supplies. But the news is not all bad.

The latest FAO Food Price Index was released today and is down three points from October's Index. This is the lowest point since June 2012. With the exception of dairy, all commodities covered by the Index fell in November.

The Cereals Price Index is down four points from October, but is still 27 points higher than it was in November 2011. Weakening global rice and wheat prices drove the fall and compensated for higher maize prices.

The Agricultural Market Information System (AMIS) has released the latest edition of its monthly Market Monitor. This month's report sees stabilized world markets as forecasts for 2012-2013 crop outlooks become more finalized. Despite this stabilization, however, attention should be paid to ongoing weather concerns, particularly drought affecting US winter wheat.

Wheat production in 2012 fell below the record seen in 2011, and ending stocks are expected to decline significantly. Wheat use, on the other hand, is expected to drop based on lower feed use in China and the EU.

The latest edition of the FEWS NET Monthly Price Watch is citing sustained high international cereals prices in October, particularly for maize and wheat. While unfavorable weather conditions in key exporting countries have contributed to keeping wheat and maize prices high, recent reductions in demand estimates, particularly from the feed industry, have kept prices relatively stable at high levels.