International prices of maize declined significantly in August, more than offsetting the previous months’ increases. Wheat quotations also dropped on ample global supplies. International prices of rice from most origins decreased. In general, cereal prices in August were below their year-earlier levels.
In East Africa, prices of coarse grains increased sharply in August in the United Republic of Tanzania, due to a reduced output this year, and in Kenya and the Sudan, reflecting uncertain prospects for the forthcoming harvests.
In Central America, the recent upward trend in maize prices halted in August in most countries with the beginning of the 2015 main cereal harvest. However, prices remained well above their year-earlier levels, reflecting this year’s unfavourable production prospects coupled with already tight availabilities following the 2014 drought-reduced harvests.
The depreciation of the national currencies in importing and exporting countries of CIS and in some South American countries, particularly in Brazil, put upward pressure on domestic cereal prices in August.