MONTHLY MARKET BULLETIN July, 2020
Key Messages ✓
On average, prices for major staples declined in July by 3% on rice, 5% on dry-beans and 11% on sorghum. On the other hand prices for maize and round potatoes increased by 2% and 6% respectively.
While prices for maize, rice and round potatoes varied in line with seasonal trends and close to their five-year average, dry-beans and sorghum prices remained above their five-year average. Prices are anticipated to increase and remain above average during the September to October period because of high demand in neighbour countries.
✓ Overall, prices for Arabica coffee are on the increase, marking 12% increase in July while prices for Robusta have increased by 5% due to slight increase in the demand for Robusta
✓ Prices for cotton and edible oil increased by 1% and 7% respectively due to increased demand in the world market. ✓ The prices for DAP increased by 12% while the price for Urea increased by 6% due to slight increase in demand.
✓ Global prices for other traditional export crops continued to drop in July, with a decline of 3% on tea, 6 on cocoa and 1% on tobacco, while wheat prices US SRW increased by 6% and wheat US HRW prices remains constant.