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Written by Joseph Glauber , Senior Research Fellow, Markets, Trade, and Institutions Division, IFPRI

Price volatility in maize and wheat futures markets has increased in recent days, based on uncertainty over planting progress and conditions affecting grains and oilseeds in the United States and hot and dry weather in Europe and the Black Sea Region during the grain fill stage which has potentially affected wheat yields. Despite recent price increases, global stock levels remain relatively high and should sufficiently buffer the impact of potential production shortfalls.

In June 2019, the FAO Food Price Index fell a marginal 0.3 percent from May and was at a similar level as that seen in June 2018. This decrease was driven by the end of dairy and vegetable oil prices’ continuous rise of five months and balanced by a new surge in cereal, sugar, and meat prices.

Around the world, more than 70% of child labor is found in the agriculture sector—an estimated 108 million boys and girls between the ages of 5 and 17, according to estimates from the International Labor Organization (ILO) and the UN Food and Agriculture Organization (FAO).

Simon Groot, from the Netherlands, has been announced as the 2019 World Food Prize Laureate for his unparalleled contribution to significantly enhancing the livelihoods and incomes of the smallholders. Groot and his business partner, Benito Domingo, began East-West Seeds in the Philippines, a venture focused on the development of high-quality vegetable seed varieties that can help farmers earn higher incomes. Since the program’s inception, these varieties have spread across Southeast Asia, Asia, Africa, and Latin America.

Southern Africa faced widespread drought from the October 2018 to March 2019 rainy season, with less than 55 percent of normal rainfall totals, alerts FEWS. The 2018-2019 rainfall began a month late, triggering extended dry spells between January and March. The historically low rainfall totals affected areas of Botswana, northern Zimbabwe, eastern Namibia, southern Angola, and the surplus producing areas of northern South Africa and southern Zambia, and registered a D3 (Extreme) or a D4 (Exceptional) drought as per the United States Drought Monitor classification scale.