West and Central Africa: WFP Regional Bureau Dakar Markets Update: June 2020

Between April and May 2020, prices of basic food commodities remained broadly stable in the region with the exception of Chad, parts of the Central African Republic, Nigeria, Senegal and Benin. The price increases are more prominent in year-on-year variation and in comparison with the 5-year average and are mainly explained by the following elements:
i. It is the beginning of the lean season, which is typically characterized by a reduction in the availability of local food products;
ii. Insecurity has reduced household food production, supply and trade capacities in affected areas;
iii. The flow of commodities in neighbouring countries are still affected by the closure of Nigeria’s borders;
iv. The Ramadan period has always been characterized by an increase in demand resulting in price increases for staple foods;
v. The depreciation of currencies against the US dollar increases the prices of imported foodstuffs;
vi. The COVID-19 mitigation measures, even if they have been partially lifted, continue to reduce availability and markets’ functioning.

Source: World Food Programme

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