Food Prices

Malawi continues to face a looming food crisis, according to the latest alerts from IPC and FEWS Net.  

On January 12, 2024, trade between Rwanda and Burundi came to a halt when the border crossing was unexpectedly closed. Food prices in Rwanda may have been expected to fluctuate more than normal as a result—both falling prices for commodities typically exported to Burundi that instead began flooding local markets and rising prices for commodities typically imported from Burundi that faced suddenly limited local supply.

The transformation of African food systems to support healthy, sustainable diets presents a significant challenge, according to the 2024 Global Food Policy Report released in May. Cereal production remains the key driver of the region’s domestic food systems, while more nutrient-dense foods like fruits, vegetables, pulses, meat, and dairy remain unaffordable for much of the region’s population. Africa also faces a double burden of malnutrition, with both undernutrition and overnutrition (overweight/obesity) rates increasing.

Cocoa bean prices have been rising since the last quarter of 2023, hitting a record high of $10.97 per kilogram on April 19 (Figure 1). The price spike is due to a significant drop in bean production by major global suppliers—four key producing nations in West and Central Africa account for more than 60% of the world's supply of cocoa beans: Cote d’Ivoire (with 38% of the global production in 2022), Ghana (19%), Nigeria (5%), and Cameroon (5%).1

Cocoa bean prices have been rising since the last quarter of 2023, hitting a record high of $10.97 per kilogram on April 19 (Figure 1). The price spike is due to a significant drop in bean production by major global suppliers—four key producing nations in West and Central Africa account for more than 60% of the world's supply of cocoa beans: Cote d’Ivoire (with 38% of the global production in 2022), Ghana (19%), Nigeria (5%), and Cameroon (5%).1