In June prices of sugar and dairy products fell sharply, meat remained stable, while cereals and oils showed improvement.
The FAO Food Price Index* averaged 165.1 points in June 2015, down 1.5 points (0.9 percent) from the previous month and almost 44 points (21.0 percent) down from June 2014. Price movements diverged across the various markets, with sugar and milk products incurring pronounced falls, while cereals and oils prices firmed somewhat. Meat prices were stable. Except for a lull in October 2014, the overall food price index has declined every month since April 2014.
Costa Rica and Honduras are the countries with the highest rates as of July 27th, 2014 for red beans, costing $2,133 and $1,695 a metric ton, respectively.
The shortage of beans has raised prices across the region and all countries have been forced to authorize emergency imports in order to supply markets.
After Costa Rica and Honduras, as reported by the Agricultural Council (CAC) "...Guatemala is in third place, with $1,615 a metric ton (MT) and then Nicaragua with $1,609.35. The lowest prices were quoted in late May in El Salvador, with U.S. $1413.04 MT.
Segmenting prices, packaging the product and making the most of when the value is greater than any competitor, are examples of good practices in setting prices during occasions such as the World Cup.
Three World Cup lessons on prices
The World Cup in Brazil provides valuable lessons for price management for companies. Here are three key lessons for those who aspire to make their company the Lionel Messi of prices.
Companies should be encouraged to be politically incorrect in order to take control of their prices, expressing and practicing concepts which are difficult to express.
By Ariel Baños
President and founder of FIJACIONDEPRECIOS.COM
"Out of the closet": what no one dares to confess about prices
Companies should be encouraged to be politically incorrect in order to take control of their prices.
The center-right presidential candidate in Costa Rica says he would mantain the extension on the liberation of rice prices.
The presidential candidate of the Citizen Action Party, Luis Guillermo Solis said that a new government would keep the six month extension that has been ordered on the liberation of the price of rice.
"... The Executive deferred the measure until 1 March 2015 after talking with the sector.
The drought in Brazil, the country which exports almost half of the world's sugar, caused prices of the grain on the international market to rise to $444 a ton.
The drought in Brazil led to an increase in the international price of sugar. The South American country exports almost half of the grain in the world.
The lack of rain also caused an increase in the international price of coffee.
Mexico and Guatemala's increased participation in the fruit market drove the price from $9 to $5 per box.
"Export volumes are the same compared to 2011 and 2012, but prices have come down due to the shared window we have with Mexico and Guatemala," said the Honduran producer Amaro Lanza to Latribuna.hn.
"Hopefully the Mexicans will finish their production window so that we can enter ours and manage to raise prices and get at least 30 days advantage," he said.
They have not managed to reach an agreement with local slaughterhouses on the upward adjustment of sales prices of livestock.
They have asked the Nicaraguan government for approval to sell three thousand head of cattle to slaughterhouses in the region where better prices are paid.
This was announced by representatives from the Federation of Livestock Associations of Nicaragua (Faganic).
Prices of a gallon of Super gasoline: Costa Rica $5.60, Nicaragua $4.86, Honduras $4.78, Guatemala $4.44, El Salvador $4.42, Panama $4.37.
A report has been released on the average consumer prices for Gasoline and Diesel in Central America, in force in the week of 15 to 21 of September 2013, based on official prices and monitoring or surveys carried out by the various DGs of Hydrocarbons or equivalent in the capital of each Central American country.
Prices of Super gasoline per gallon : $5.63 Costa Rica, $5.13 Nicaragua, $4.81 Honduras, $4.52 Guatemala, $4.42 El Salvador, $ 4.37 Panama .
A report has been released detailing the average consumer prices for Gasoline and Diesel in Central America, in force in the week 14th to 20th July 2013, based on official prices and monitoring or surveys carried out by the various DGs of Hydrocarbons or equivalent in the capitals of each Central American country.
The International Coffee Organization attributed the worldwide drop in coffee prices to excess production.
This was pointed out by the executive director of the International Coffee Organization (ICO), Roberio Silva, during a meeting with 73 members of the agency in Brazil.
"We hope that some concrete measures will come out of the meeting to help the (coffee) market to better understand the current status of stocks, prices, consumption and export," said Silva.
With the increase in premiums in their contracts large buyers are guarding against uncertainty over the Central American harvest volume affected by rust.
Terra.com.co reports: "The premium for Arabica hard bean washed coffee (HBMC) from Peru stored in the United States rose to an average of 14 cents over futures contracts observed in the U.S. last week, its highest level since September 2011 and a sharp increase from the 11 additional cents in late July ... ".
China may decrease its maize imports by up to 60% in the next 12 months, which would ease the pressure that its demand has put on prices.
The decline in imports by China would generate relief for other buyers amid falling global supplies after the drought in the grain belt of the United States.
"China could buy 2.15 million tonnes of maize in 2012/2013, while production could rise by 0.4% to 192.6 million tonnes, below the official estimates by the Department of Agriculture (USDA), according to a survey by Reuters among 10 analysts and traders.
The Inter-American Institute for Cooperation on Agriculture should not overreact to current price conditions, avoiding trade-distorting policies.
A statement from the Inter-American Institute for Cooperation on Agriculture (IICA) reads:
IICA: Rising prices of agricultural products is temporary
The increase in prices for corn, soybeans and wheat will not cause a food crisis in Latin America and the Caribbean, as occurred in 2007-2008, says a report by the Institute.