Data

The latest edition of the AMIS market monitor, released on September 8, shows that the international price of wheat, maize, rice, and soybean has decreased since July. This decline has been driven by improved global crop prospects and plentiful export availabilities.

The August FAO Food Price Index increased by 3 points (1.9 percent) from July to 165.6 points reaching a 15 month high. This increase was predominantly driven by price increases in dairy, oils and sugar, though all commodities covered except for cereals experienced an increase.

The August Cereal Price index fell by 4.5 points and is currently 7.4 percent below its year earlier level. The completion of wheat harvests in the northern hemisphere placed downward pressure on wheat prices. Similarly, maize prices decreased due to excellent crop prospects in the United States.

The monsoon season in Southeast Asia extends from May through September. According to a special report from the FAO's Global Information and Early Warning System (GIEWS), this year's monsoon season has seen above-average rains, along with a series of typhoons and tropical storms from June through early August. These conditions have caused severe flooding in several of the Food Security Portal's prioritized countries , resulting in loss of life, displacement of large populations, damage to farms and infrastructure, and loss of livestock and stored food.

The USDA’s monthly report on World Agricultural Supply and Demand Estimates (WASDE) was released on August 12.

The July FAO Food Price Index fell by 1.3 points following five consecutive months of increases. The slightly drop in July was driven mostly by lower international quotations of grains and vegetable oils.