Global Highlights
During the third quarter of 2014, the global cereal price index decreased by 13% year-on-year, down by 11% compared to the previous quarter.
Real prices of maize have fallen by almost a third since last year. They are down 18% from Q2-2014, reaching levels seen in early 2010.
Real prices of wheat dropped by 18% from Q2 to Q3-2014, falling to mid-2010 levels.
Real prices of rice are up 7% since Q2-2014.
During Q3-2014, the cost of the minimum food basket increased severely (>10%) in El Salvador, Honduras, Iraq, Liberia and Sudan. High increases (5-10%) were seen in four countries: Nicaragua, Guinea, Thailand and Viet Nam.
Price spikes, as monitored by ALPS (Alert for Price Spikes), are evident in Burundi, Chad, India, Malawi, Mozambique, Sir Lanka, Sudan and Zambia. These spikes indicate crisis levels for the most important staple in the country.