Key facts:
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Ø During the month of January 2021, contrary to the drop
in prices that we expected, the storage operated by the players on the one
hand, the pressure of demand and the start of institutional purchases on the
other hand caused stabilities see very remarkable slight price increases in the
maize market in particular.
Ø Overall, for the rice sector, the trend has been
towards price stability in all of the markets monitored (Senegal, Guinea, Ivory
Coast, Burkina, Ghana, Togo, Benin). For maize, price increases were noted in
Guinea, Ivory Coast, Burkina Faso, Ghana, and Benin while prices were
"rather stable in Senegal and Togo. For millet, with the exception of
Burkina and Ghana where slight increases have taken place, the trend has been towards
stability in all of the other markets monitored (Senegal, Guinea, Ivory Coast,
Togo, Benin). For Sorghum, apart from Ghana, which experienced slight price
increases, stability was the order of the day in Senegal, Ivory Coast, Burkina
Faso, Togo, and Benin
Ø FAO's latest forecast for world cereal production in
2020 is nearly 2,744 million tonnes, up slightly (0.1 percent) from the
previous forecast in December.
Ø Agricultural markets remain generally well supplied
with regard to harvests. However, demand for the replenishment of traders and
institutional stocks is above average and could keep prices under pressure.
Ø The second wave of COVID-19 in the region could prompt
re-containment in the coming weeks, something that could further impact prices.
Ø Observations show that maize is one of the
speculations that have been the subject of more transactions by actors of the
cereal value chains;
Ø Cross-border flows between countries were also
required, which has made it possible for the moment to increase availability in
the countries and to limit increases;