KEY MESSAGES:

• In January 2025, global maize prices increased while both wheat and rice prices declined, with wheat experiencing only a marginal decrease. Maize prices were influenced by unfavourable planting conditions in Argentina and Brazil along with tight supplies in major exporting countries. Wheat prices edged only slightly lower as weak import demand weighed against tight export supplies, especially from the Russian Federation. Meanwhile, international rice prices declined, amid ample exportable supplies and increased competition among exporters.
• FAO’s analysis of the latest available domestic food price data shows persistently high year-on-year prices in many countries in December 2024 and January 2025, despite month-on-month price declines in countries with ongoing or recently-concluded harvests. In Far East Asia, rice prices were at near-record levels in Myanmar and the Philippines, partly due to unfavourable harvest prospects and high input costs. In East and West Africa, prolonged conflicts and macroeconomic challenges kept prices of key staples significantly elevated in some countries. In Southern Africa, tight domestic supply conditions drove white maize prices to new record highs in several countries.