During 2020, companies in the region bought corn abroad for $998 million, 5% more than what was reported in 2019, a variation that is explained by the increase in imports from Nicaragua, Guatemala, Honduras, Panama and Costa Rica.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with the graph"]
The increase in the international prices of corn and soybeans, inputs used to produce animal feed, threatens to put upward pressure on the production costs of meat, eggs and dairy products.
In recent months, the international price of a bushel (27 kilos) of soybeans increased by 28%, from $10.6 to $13.62, between November 1, 2020 and January 28, 2021.
Due to the high geographic concentration of global production, Central America has increased its imports, but at the same time has become more vulnerable to crop losses, rising international prices and possible disruptions in supply chains.
The importance of the market for this type of food is that rice, wheat, corn, beans and soybeans are basic foods on which the world's population largely depends, since it is estimated that almost half of the calories consumed by people come from these foods.
In the context of the covid-19 crisis, the Salvadoran authorities decided to establish a maximum price for all products in the basic basket.
The Consumer Defense Office has selected beans, corn, rice, milk and eggs as essential products, which must be kept at accessible prices in the local market.
In the second month of this year, the FAO food price index rose by 8 percent compared to the same month in 2019, explained by rising prices of meat, dairy products, vegetable oils and sugar.
From FAO's monthly report:
-The FAO Food Price Index* (FFPI) averaged 180.5 points in February 2020, down 1.9 points (1.0 percent) from January but still 13.5 points (8.1 percent) higher than in February 2019.
Up to January this year, the FAO food price index rose by 11% compared to the same month in 2019, explained by the increase in the prices of meat, dairy products, vegetable oils and sugar.
From FAO's monthly report:
» The FAO Food Price Index* (FFPI) averaged 182.5 points in January 2020, up 1.3 points (0.7 percent) from December 2019 and 11.3 percent higher than the same month last year.
As of December last year, the FAO food price index was up 13% over the same month in 2018, explained by rising prices of meat, dairy products, vegetable oils and sugar.
From the monthly report of the FAO:
» The FAO Food Price Index* (FFPI) averaged 181.7 points in December 2019, up 4.4 points (2.5 percent) from November, marking the third month of consecutive increase.
In the tenth month of the year, the FAO food price index rose 6% from October 2018, explained by rising prices of sugar, meat, dairy products and vegetable oils.
From FAO's monthly report:
» The FAO Food Price Index* (FFPI) averaged 172.7 points in October 2019, up 1.7 percent (3 points) from September and 6.0 percent higher than in the corresponding period last year.
In the ninth month of the year, the FAO food price index increased by 3% compared to September 2018, explained by the rise in the prices of sugar, meat, dairy products and vegetable oils.
From FAO's monthly report:
» The FAO Food Price Index* (FFPI) averaged nearly 170 points in September 2019, unchanged from August but 3.3 percent higher than in the corresponding period last year.
In the first quarter of 2019, the countries of the region imported $108 million in animal feed preparations, 8% less than what was reported for the same period in 2018.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAPHIC caption="Click to interact with graphic"]
In the eighth month of the year, the FAO food price index fell 2% from July 2019, explained by the decline in the prices of sugar and main cereals.
From FAO's monthly report:
» The FAO Food Price Index* (FFPI) averaged 169.8 points in August 2019, down 1.1 percent (almost 2.0 points) from July but still 1.1 percent higher than in August 2018.
In the seventh month of the year, FAO's food price index rose 2% over the same month in 2018, again explained by the increase in the prices of cereals, meat and sugar.
From FAO's monthly report:
» The FAO Food Price Index* (FFPI) averaged 170.9 points in July 2019, down 1.1 percent (1.8 points) from June but 2.3 percent higher than in July 2018.
In the fifth month of the year, the FAO food price index fell 2% over the same month in 2018, explained by the decline in prices of cereals and vegetable oils.
From the FAO monthly report:
The FAO Food Price Index* (FFPI) continued to rise for the fifth consecutive month, averaging 172.4 points in May 2019, up 1.2 percent (2.1 points) from April but still 1.9 percent below its level in the corresponding month last year.
In the fourth month of the year, the FAO food price index fell 2% over the same month in 2018, explained by the decline in prices of meat, cereals and vegetable oils.
From FAO's monthly report:
The FAO Food Price Index* (FFPI) rose in April 2019 to around 170 points, 1.5 percent (2.5 points) higher than in March and marking its highest value since June 2018.
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