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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;