Resources

Fertilizer prices have declined by more than 40 percent since hitting record (nominal) highs last spring, especially due to recent drops in natural gas prices and fertilizer plants reopening in Europe. Though prices remain almost twice the level of two years ago, this development is welcome news for producers making input purchases this spring and should improve profitability margins for many crops. With the price decline most prominent for nitrogenous fertilizers, this could make nitrogen-intensive crops such as wheat and maize more attractive planting choices than they were last spring. Lower prices could also encourage higher application rates, particularly in developing countries where fertilizer use is relatively low and where recent high prices have further reduced application rates.

The report analyzes the evolution of weekly maize and rice prices in four East African countries - Uganda, Kenya, Tanzania, and Rwanda - in December 2022.

The report presents price trends and movements for key food commodities, including dry beans, dry maize, rice, wheat, and Irish potatoes, for December 2022, 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 November 2022.

The report presents price trends and movements for key food commodities, including dry beans, dry maize, rice, wheat, and Irish potatoes, for November 2022, in selected major regions and markets in Kenya.

With northern hemisphere grain and oilseed crops largely harvested, and the Black Sea Grain Initiative extended for another 120 days, market attention is shifting to growing conditions in the southern hemisphere. The third consecutive year of La Niña has prolonged drought conditions in Argentina, resulting in sharply reduced wheat production prospects relative to last year. By contrast, La Niña has resulted in abnormally wet conditions in Australia, which expects aboveaverage wheat yields; however, concerns remain over the quality of the crop, which could impact prices for milling wheat. Planting progress for South American maize and soybeans are on pace, but it is still too early to tell whether yields will return to more normal levels after last year's drought-reduced production.