In the first six months of the year, rice imports in Central America reached $163 million, an increase of 56% over the same period in 2017.
Figures from the information system of the Rice Market in Central America, from the Trade Intelligence Area of CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
Corn imports from the countries of the region reached $168 million between January and March of this year, 6% more than what was reported in the same period of 2017.
Figures from the information system of the Corn Market in Central America, from the Trade Intelligence Area of CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
Due to a shortage of the grain, this week millers in Honduras have asked the government for the corresponding permits to import corn from the US.
In relation to the requested permits, the head of the Ministry of Agriculture and Livestock (SAG), Mauricio Guevara confirmed last Wednesday that " ...There is a request due to shortage, I understand that it comes from three or four companies in the milling industry."
In July, the FAO food price index registered the sharpest monthly decline since December 2017, due to a reduction in the prices of all the food in it.
From the monthly FAO report:
» The FAO Food Price Index* (FFPI) averaged 168.8 points in July 2018, down as much as 6.5 points (3.7 percent) from June and 10.3 points (3.7 percent) from the corresponding period last year. The July fall marked the first significant month-on-month decline in the value of the FFPI since December 2017, reflecting notable drops in the values of all sub-indices.
The Morales administration has asked Congress to approve an additional $40 million to buy food to supply the inhabitants of the drought-affected areas.
The Ministry of Agriculture, Livestock and Food (MAGA) put before the deputies a request to approve an additional item of Q300 million ($40 million) to buy food for the approximately 300,000 families that have lost their crops in the Dry Corridor that includes the departments of Santa Rosa, Jutiapa, Jalapa, El Progreso, Zacapa, Chiquimula and part of Izabal and Baja Verapaz.
Explained by an increase in purchases made from companies in Brazil, during the first quarter of the year Panama imported $19 million worth of rice, 207% more than in the same period in 2017.
Figures from the Information System on the Rice Market in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with graph"]
In the context of the difficult situation that Nicaragua is facing, the Ortega administration has announced its projections for agroindustrial production, consumption and trade for the period 2018 -2019.
From a statement issued by the Central Bank of Nicaragua:
Between the 2016-2017 and 2017-2018 agricultural cycles, the amount of land planted with rice in Panama grew by 2%, but the volume harvested decreased by 2%.
In the first three months of the year, rice imports into Central America totaled $64 million, registering an increase of 29% over the same period in 2017.
Figures from the Information System on the Rice Market in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with graph"]
The FAO food price index registered an interannual decrease of close to 1%, due to weakening in most markets, as a result of tensions in international trade relations.
From the monthly FAO report:
The FAO Food Price Index* (FFPI) averaged 173.7 points in June 2018, down 2.4 points (1.3 percent) from its level in May, representing the first month-on month decline since the beginning of this year. Most markets have generally taken-on a weaker tone recently largely because of rising tensions in international trade relations.
In order to guarantee the supply of basic grains in the country, the Salvadoran government has signed an agreement to import 35,000 tons of white corn.
Due to the lack of rain that has affected crops in areas of the east of the country, the government signed an executive agreement between the ministries of Agriculture, Economy and Finance, to import basic grain.
The FAO food price index grew 1.9% year-on-year, due to the increase in prices of dairy products and cereals.
From the monthly report on the FAO food price index:
The FAO Food Price Index* (FFPI) averaged 176.2 points in May 2018, up 2.2 points (1.2 percent) from April level and hitting its highest level since October 2017.
In 2017, countries in the region imported $265 million worth of rice, of which 45% was purchased by companies in Costa Rica and Honduras.
Figures from the Information System on the Rice Market in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with graph"]
Between February 2013 and December 2017, the average price of a kilo of corn imported into Guatemala has been on a downward path, falling from $0.43 to $0.19.
Figures from the information system on the the Corn Market in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with graph"]
Through an agreement with the union of soy and corn producers in Mato Grosso, promotion will be given to the the transfer of grains from the north of Brazil to markets in Asia.
The Canal Authority reported that "...The agreement allows the coordination of joint marketing activities, exchange of market studies and information on commercial flows, as well as modernization and improvement programs."
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