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The report presents price trends and movements for key food commodities, including dry beans, dry maize, rice, wheat, and Irish potatoes, for March 2023, in selected major regions and markets in Kenya.

The report analyzes the evolution of weekly maize and rice prices in four East African countries - Uganda, Kenya, Tanzania, and Rwanda - in March 2023.

Over the past 10 months, world prices of most grains and oilseeds have fallen back to levels prior to the war in Ukraine. Likewise, volatility in prices has also declined considerably from recent highs. With the extension of the Black Sea Grain Initiative, there is hope that the world is recovering from the price shocks of the past year. Yet, while prices have fallen in international markets, they have frequently remained high at local level, particularly in net food importing developping countries reflecting the weakening of their currencies against the US dollar. As a result, food price inflation is still a serious concern in many countries, also because post-farm gate costs for shipping and processing remain subject to inflationary pressures.

Nepal’s agrifood system remained economically stable during March of 2023. The year-on-year inflation in food and beverage prices has cooled down to 5.6% compared to 7.5% in Feb/March 2022. Field reports however suggest that this downward movement in prices have not yet translated to substantial changes in the cost of consumer and agricultural market goods. Inflation in food and beverage prices is marginally lower than the previous year: The cost of food and beverages increased by 5.6 percent from March 2022 to March 2023. A sharp 8.8 percent decline in the price of vegetables compared to last year helped lower the inflation in food prices. Food inflation was the highest in the mid-hills and mountains (8.8 percent) and the lowest in the Kathmandu Valley (4.5 percent).

The report presents price trends and movements for key food commodities, including dry beans, dry maize, rice, wheat, and Irish potatoes, for February 2023, in selected major regions and markets in Kenya.

The report analyzes the evolution of weekly maize and rice prices in four East African countries - Uganda, Kenya, Tanzania, and Rwanda - in February 2023.

With no end in sight to the war in Ukraine and threats of further escalation, uncertainty continues to hang over agricultural markets. Supplies are tight. Reduced plantings in Ukraine mean that other countries will need to produce additional grains and oilseeds to help rebuild global stocks and moderate price levels. The world has so far been relatively fortunate: a combination of good weather and strong producer supply response has kept market prices from rebounding back to the high levels of early 2022. However, tight stocks will mean increased price volatility, particularly during periods of uncertainty such as planting times and the Northern Hemisphere growing seasons. In addition, uncertainty over events like the renewal of the Black Sea Grain Initiative will continue to roil markets.