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Forum on food prices in the Pacific Islands

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From:
FAO-Food-Price-Forum-Pacific-Islands <[log in to unmask]>
Reply To:
FAO-Food-Price-Forum-Pacific-Islands <[log in to unmask]>
Date:
Mon, 10 Sep 2012 11:47:39 +0200
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Food Price Forum is moderated by the FAO Sub-regional Office for the Pacific Islands, in collaboration with the Policy Assistance Support Service
Dear colleagues,
We are pleased to attach the latest AP Weekly Price Monitor (7 September). This, and previous issues can be downloaded from http://www.foodsecuritylink.net/ To subscribe, please send us an email to AP-Weekly-Price-Monitor@<mailto:[log in to unmask]>fao.org<mailto:[log in to unmask]> or see the instructions below.

From August 2012, AP Weekly Price Monitor team has adjusted the criteria to flag unusual price movements:
- On weekly basis, nominal price changes below 5 percent are considered "stable"
- On a monthly basis, nominal price changes below 10 percent are considered "stable"
- On an annual basis, nominal price changes below 25 percent are considered "stable"
These modifications are also reflected in the price and policy section, as well as the monthly highlights.
Over the past week, staple food commodity prices remained relatively stable in most countries except for the following:
- During mid-August in Fiji, cassava prices dropped by 19 percent and Dalo-tausala (taro) prices fell by 9 percent.
- Wheat prices in India and Pakistan (wheat flour) increased by 12 and 8 percent, respectively.
 - In Indonesia, chicken prices fell by 7 percent.
- In Samoa, taro palagi prices fell by 21 percent from July to August. Banana prices also fell by 33 percent during the same period of time.

Under national policy highlights, the Government of Indonesia announced the re-establishment the National Logistics Company (BULOG) as a buffer stock agency to help stabilize prices of three major commodities: rice, sugar, soybean. Thailand's Cabinet re-established the National Rice Policy Committee (NRPC) and gave the green light to a new round of rice pledging for 2012/13 harvests, estimating that 78 percent of the total production (25.88 MMT from 33 MMT) will be sold to the government. The programme will be implemented from October 2012 to September 2013. Support prices have been set for ordinary rice at THB 15,000 (US$480) per tonne; and THB 20,000 (US$645) per tonne for fragrant rice.

At regional level, during the 44th ASEAN Economic Ministers Meeting (AEM), 10 ASEAN Member States took note of the progress made under ASEAN Framework on Equitable Economic Development (AFEED) for several topics and sectors, such as food security. They also held a dialogue with trade partners like China, South Korea, Japan, Australia, New Zealand, India, the United States, Canada and Russian Federation.



Regarding weather conditions, in contrast to the flooding in the delta and Bago Region which has affected 600,000 acres (2.4 million hectares) and 10 percent of the paddy crop, many areas of central Myanmar have received little or no rain during the monsoon season, and only 60 percent of the targeted acreage for monsoon paddy crops had been sown in Mandalay Region. In Pakistan, flash floods and heavy rains had washed away livestock in Khyber Pakhtunkha and AKJ provinces. A long dry spell that started in early May has negatively affected 288,000 hectares of 2012 maize cropland of the main season in the largest crop producing provinces in Democratic People's Republic of Korea.



With best regards,

AP Weekly Price Monitor





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