Dear colleagues,
 

We are pleased to attach the latest AP Weekly Price Monitor (31 August). This, and previous issues can be downloaded from http://www.foodsecuritylink.net/ To subscribe, please send us an email to AP-Weekly-Price-Monitor@fao.org 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:

- In Bangladesh, chicken prices fell by 7 percent.

- Rice prices in Cambodia and Viet Nam increased by 10 and 8 percent, respectively.

- In India, wheat prices increased by 7 percent.

 
Under national policy highlights, the Government of India has taken several measures to increase availability and access of institutional credit to farmers, such as (i) setting an annual target for the flow of credit to the agriculture sector of INR 5.75 trillion (USD 103 billion); (ii) implementation of an interest subvention scheme for short-term crop loans up to IND 300,000 (USD 5,300); (iii) advising banks (public and private) to waive security requirements for agricultural loans; and (iv) issuing credit cards.

 

Regarding weather conditions, in China, according to the national crop pest monitoring and reporting network, rice plant hoppers were detected in over 260 million mu (17.33 million hectares) of rice crops, 50 percent higher than the same period last year. Recently the Ministry of Finance and the MOA allocated an additional CYN 200 million (USD 31.75 million) in subsidies to assist pest control efforts. Seasonal monsoon rainfalls across Pakistan continue with expected flooding occurring, especially in the northern areas. While the situation has largely folded out, provinces remain on high alert for flooding. The government’s contingency plan remains prepared considering a caseload of 29 million people affected by severe climate conditions. A tropical storm Kai-Tak (Helen) made landfall in Isabela province on the north-eastern coast of the Philippines on 15 Aug 2012, bringing heavy rains that caused flash floods and flooding. As of today, the government has provided food assistance to affected families. Agriculture and fisheries damages were recorded at PHP 15.5 million (USD 367,000).

 

With best regards,

AP Weekly Price Monitor

 

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