Data

The latest FAO Food Outlook finds that, on average, global food prices have been 8 percent lower during 2012 than they were in 2011. Global food import bills are forecast at USD 1.14 trillion, which is 10 percent lower than the record import bills seen in 2011.

The Agricultural Market Information System (AMIS) has released the third edition of its monthly Market Monitor . The report examines global agricultural market and price trends.

This third edition finds that the global supply and demand balance for wheat and maize continues to tighten; however, the balance for rice and soybeans is easing. Wheat forecasts have been impacted in recent weeks by unfavorable weather in several winter-wheat growing areas in the northern hemisphere. Conflicting reports regarding Ukraine's proposed wheat export ban have also complicated the market.

In its latest Monthly Food Price Watch, FEWS NET reports that global rice production for 2012/2013 is expected to be the highest on record. Global soybean production prospects also improved with a 10 percent increase for 2012/2013; however, strong global demand is expected to keep soybean and soybean oil prices high. While global wheat prices remain high, production is only expected to decline by six percent. However, trade policies in key wheat exporting countries could exert further pressure on prices.

Over the past four months, weather patterns and conflict have played a key role in the food security situation in several regions, according to the latest issue of the WFP's Global Food Security Update. While good rains in the Sahel have led to a predicted short-term improvement in the region's food security, drought and flooding in several other areas of the world have produced shocks that are likely to drive more people into hunger.

The latest USDA World Agricultural Supply and Demand Estimate report was released today. This month's report cites lower world supplies for wheat and maize; global rice supplies, on the other hand, are up to a record 465.1 million tons.