International Food Prices Hit Four-Year Low

International prices of food decreased by 6 percent between April and August 2014, reaching a four-year low, according to the latest edition of Food Price Watch. This sharp decrease was driven mainly by international wheat prices, which went down 19 percent and maize prices, which plummeted 21% between April and August 2014. Rice prices actually increased 13 percent during the same period. Prospects for next year’s harvests and food stocks are strong.

Domestic prices of grains have remained mostly stable overall, except across Central America and some parts of Western Africa, the latter partly associated with the Ebola Virus Disease. Prices in individual countries saw their typical variations, with large wheat price increases in monitored markets in Sudan and Ethiopia, and decreases in Argentina. Domestic maize prices decreased in monitored markets across Africa. Rice prices went up in Vietnam, Thailand, and India.