Key facts: By country, the trend is as follows:

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1 GRAIN FARMERS Economic bulletin on cereals markets in West Africa Issue 29 December 218 Contact: blog: Summary: Market situation in a nutshell 1 Key facts 2 Rice market 3-4 Maize market 5-6 Millet market 7-8 Sorghum Market 9-1 Wholesale sales and purchases 11 Key facts: Editorial: Soon a Manual of Cereal Import and Export Procedures in the ECOWAS Area will be produced The Borderless Alliance, with the support of stakeholders and British cooperation through its WAFM program, has developed a "Manual of Procedures for the Importation and Exportation of Cereals under the ECOWAS Trade Liberalization Scheme". This Guide is intended for those involved in the trade and transport of cereals in general, and cross-border trade in particular. A meeting was held on December 13 in the premises of the Niger Chamber of Commerce and Industry. This meeting was attended by the focal point of the West African Network of Cereal (ROAC), Mr. Amadou Ousmane, President of the Interprofessional Committee of Niger (CIC-Niger) and the Agricultural Markets Analyst of ROAC, Mr. Danbadji Assoumane Boubacar. During the meeting, the participants read the contents of the manual and actively contributed to its improvement through their constructive questions and comments based on their rich experiences in the field. The revised and amended version of the manual is expected in the coming days for the consumption of the players in the cereals trade of the ECOWAS region. Exécutive secretary En partenariat avec Market situation in a nutshell: During the month of December 218, the marketing of new cereals increased in the markets of West African countries monitored and increased the supply of maize, millet and sorghum, and rice. However, particularly due to the end-of-year holiday season, demand has also rose, and as a result, prices have remained generally stable even though declines have been recorded in some localities. By country, the trend is as follows: For rice: The overall trend during the month of December 218 has been towards price stability. This stability has been observed in the markets of five countries (Senegal, Mali, Burkina-Faso, Ghana, and Togo). Nevertheless, slight price decreases were recorded in 2 countries (Benin, Niger) and a slight price increase was noted in Côte d'ivoire. For maize: six out of the eight countries monitored had price stability. This stability was noted in the markets of Senegal, Côte d'ivoire, Ghana, Togo, Benin and Niger. Price decreases however occurred in Mali and Burkina Faso. For Millet: Seven out of the eight countries monitored recorded price stability in their markets. These stabilities have been observed in Senegal, Mali, Côte d'ivoire, Ghana, Togo, Benin and Niger. Only Burkina Faso experienced slight price decreases. For Sorghum: Six out of the eight countries monitored namely Senegal, Mali, Côte d'ivoire, Ghana, Benin, and Niger experienced price stability in their markets. Only 2 countries, Burkina Faso and Togo, experienced price declines. Une publication du Réseau Ouest-africain des Céréaliers, réalisée avec l appui technique du Service n kalô ( et d AGUISSA pour la couverture de la Guinée. Réalisée avec le soutien financier du Centre technique de coopération agricole et rurale (CTA), de l Alliance pour une révolution verte en Afrique (AGRA) et de nitidæ.

2 Key facts: During the month of December 218, overall, we must remember that: Thanks to the good harvest record during the 217/218 crop year, West African cereal imports decreased significantly in 218. According to the USDA, rice imports from the sub region in 218 were close to tons of husked rice compared to 7 36 tons in 217, a 3% decrease in imports, mainly due to a declining imports from Nigeria. Compared to 217, maize imports from the sub-region have been very limited in 218. According to a provisional assessment, they amount to just over 3 tons against more than 95 in 217, ie a drop of 68%. The main importers of maize are Senegal, Nigeria and Ghana. With good harvests in progress, cereal imports are expected to stabilize or even decrease slightly in 219 despite the increase in local consumption (mainly due to population growth and growth in maize demand in the poultry sector). Expected evolution of average prices in the sub-region Next weeks Slight decrease Next months Slight decrease Rice Harvests of new cereals (rice, maize, millet, sorghum) continued in most of the major production areas of West African countries Maize Slight decrease Slight decrease followed, increasing availability. Marketing s of these cereals have Millet Slight decrease Slight decrease intensified in almost all markets monitored; Sorghum Slight decrease Slight decrease These marketing coupled with the destocking of the last old stocks and the good circulation of the product at the land borders of the sub-region have allowed a very good supply of almost all urban markets. Prices remained broadly stable or down on the previous month. It should be noted, however, and as mentioned in previous issues of the bulletin "Grain Farmers" that the functioning of markets remains disrupted in the Grand Lake Chad Basin, in northern and central Mali, in northern Nigeria and in the Liptako- Gourma because of conflicts; Imports of maize from West Africa from the rest of the world (in tons, sources: customs statistics between January and October from countries of origin: USA, Argentina, Brazil, South Africa and France) Côte d'ivoire Ghana Sénégal Nigeria 2

3 The Rice Market in West Africa Recent evolution of average prices of rice Sénégal Guinée Mali RCI BF Ghana Togo Bénin Niger Stability - Stability Slight increase Stability Stability Stability Slight decrease Slight decrease Farm gate price (USD/kg),24,23,25,26,21,23,21,16,25,25,22,22,3,28 Local white rice wholesale production areas (USD/kg) Wholesale price of long grain milled rice in production areas of West Africa (USD/MT) Déc Janv Fev Mars Avril Mai Juin Juillet Août Sept Oct Nov Dec ,88,92,62,62,44,34,88,4,53,57,24,44,52,66 1,6,6,53 Local white rice wholesale consumption areas (USD/kg),66,53,88,97,64,7,88,48,55,55,59,34,58 Médian 3

4 Senegal Mali Côte d Ivoire Burkina Faso Ghana Togo Benin Niger International market WAGN s advice: During the month of December 218, the harvests of the rainy season began gradually to improve the supply of rice. It is important to note that many intermediaries who held paddy stocks from the previous season for speculation sold it at market prices, sometimes even below. Prices have been stable compared to the previous month and should thus be maintained, especially with the fixing of the price at 13 FCFA / kg. During the month of December 218, it was found that the good supplies generated by the destocking of old stocks and the marketing of new harvests favored price stability in the face of the demand, which remained just as important. During the month of December 218, it was found that, rice is now well available in the production areas. However, given the limited quantities marketed and the growing demand for local rice, there has been a slight increase in prices that could stabilize over the next few weeks. In December 218, the national rice market was marked by an available supply that was considered quite good. The good availability of supply is linked to the actual presence of new crops on the markets. This availability of supply has led to a quasi-generalized price stability and even localized declines in some places. The month of December 218 was marked by an increase in demand and supply of both local rice and imported rice. Although harvesting is still ongoing in parts of the Volta, it was completed earlier in the northern, Upper east, and upper west. Overall, the trend has been towards price stability and this situation could continue over the next few weeks. During the month of December 218, there has been an increase in the availability and demand of milled rice in light of the end of year festivities. As a result, prices have remained stable in almost all markets monitored and may remain stable over the next few weeks. During the month of December 218, significant price decreases were observed at the field level. This decline could lead to lower prices on the wholesale markets in the coming weeks. However, demand for both local rice and imported rice has increased in most of the markets monitored and could limit the price cuts that have been made. The rice market in December 218 was marked by a supply that was totally superior to the demand, leading to lower prices. Moreover, the multiplication of group purchases continues between the cooperatives and the RINI for a possible storage of the company. However, there is a presence of wholesalers in local markets and this could contribute to possible increases in the coming weeks. During the month of December 218, in Vietnam, China's decision to impose stricter conditions on imports from that country favored the further decline in Vietnam prices by 5%. In Thailand, the market has remained calm. Overall, world rice production is still considered very good this season and global rice stocks are expected to rise in 219, so prices of imported rice in West Africa are likely to remain rather low this year. During the month of December 218, the overall price trend has been towards stability or even a slight decline. This stability is linked to the increasing marketing of new rice stocks and is expected to continue in the coming weeks. This coupled with the latest FAO estimates that we conclude that international rice prices should remain relatively low in this season, it is reiterated that the old stocks are destocked immediately and that, rice should be stored for a short time. This is because the potential for a rise in the price of rice in this season seems rather limited. Barometer of rice stocks in West Africa Very important X Very low 4

5 THE MAIZE MARKET IN WEST AFRICA Recent evolution of average prices of maize Senegal Guinee Mali RCI BF Ghana Togo Benin Niger Stability - Slight decrease Stability Slight decrease Stability Stability Stability Stability Maize in Farm gate (USD/kg),31,26,18,21,21,26,26,18,14,13,15,16,2,14 Maize in production areas (USD/kg),33,32,28,33,28,21,23,22,19, Wholesale price of maize in production areas of West Africa (USD/MT Déc Janv Fev Mars Avril Mai Juin Juillet Août Sept Oct Nov Déc ,39,35,26,23,18,18,16,16 Maize in consumption areas (USD/kg),47,35,37,31,26,23,36,21,33,26,21,2,19,18 Médian 5

6 Senegal Mali Côte d Ivoire Burkina Faso Ghana Togo Benin Niger International market WAGN s Advice Maize prices remained stable at the edge-field and half-grain levels, particularly in the groundnut basin (Kaolack). The supply has been good and demand is growing. The marketing of all crops correlated with the good production this year should stabilize prices for a few months. During the month of December 218, the intensification of the marketing of the new maize on the one hand, coupled with the destocking had an effect on the continuation of the price decrease started last month. This decline should stabilize in the coming weeks with the demand, which is increasing sharply. During the month of December 218, the trend has been towards price stability. Indeed the demand and supply was good and according to the actors, maize would have been successful in the North. The contracts were signed at 115 FCFA in Abidjan. In contrast, in the Agnibilékro region, the contracts were signed at 13 FCFA per kg. The maize harvest continues. The month of December was marked by a very good availability of the offer. Thus, prices fell slightly in some markets on the field (Hauts Bassins and Mouhoun) and in consumer markets such as Ouaga and Bobo and the Léo market. Farmer stock levels are important. Maize supplies increased slightly during the month in most markets under surveillance. However, many farmers have started storing large quantities of maize in warehouses because they say current prices are not favorable and will sell them when stocks decline. This situation can raise prices a little earlier than expected. During the month of December, the offer was more and more important and this is linked to the marketing of significant stocks. At the same time, demand has not declined and there has been a trend towards price stability. This trend could continue over the next few weeks. During the month of December 218, the trend has been towards price stability. Indeed, availability has improved and marketing has continued. This situation has facilitated the smooth flow of trade in the monitored markets. Harvests continue in maize production basins. The level of stock over the area is relatively good. On all the markets monitored during the month of December 218, we observed a good availability of supply. Given this sufficient availability in the markets, prices have been stable. This offer is explained by the effectiveness of harvests in producing countries and the multiple imports of neighboring countries such as Nigeria, Benin and Burkina Faso. The market could be characterized by a slight rise in the coming months due to the group purchases of the State. US export of Maize continue at a healthy pace of 27.7 Mt compared with 23.8 Mt at the same time last year, an increase of 16%. The United States is enjoying strong global demand while maize production from Argentina and Brazil, two major exporting countries, has been reduced by drought in 218. It should be kept in mind that the new crop South American maize will not be available until June 219 for the global market. Ukraine's maize production has again risen 1.5 Mt to a record level of 35 Mt. In a context where maize production at the global level is correct and demand is dynamic, International prices have been relatively stable in recent weeks but may increase slightly in the coming months. During the month of December, the marketing of the new maize favored either stability or slight price decreases in the markets monitored. Taking into account the quantities available both at regional and international level, it is reiterated to avoid storing too much in terms of the harvest in progress and the holders of old stocks destocking immediately. Barometer of maize stocks in West Africa Very important x Very low 6

7 THE MILLET MARKET IN WEST AFRICA Recent evolution of average prices of millet Senegal Guinee Mali RCI BF Ghana Togo Benin Niger Stability - Stability Stability Slight decrease Stability Stability Stability Stability Millet in Farm-gate (USD/kg),29,26,44,33,21,35,26,44,26,16,31,23 Millet in production areas (USD/kg),33,35,35,31,37,44,45,28,25,3,25,32,37, Wholesale price of Millet in production areas of West Africa (USD/MT Déc Janv Fev Mars Avril Mai Juin Juillet Août Sept Oct Nov Déc ,35,33 Millet in consumption areas (USD/kg),53,48,49,46,38,39,3,46,32,34,33,33,4,26 Médian 7

8 Senegal Mali Burkina Faso Ghana Niger WAGN s Advice During the month of December 218, it was found that the supply of millet was good on almost all the monitored markets. Intermediaries have been very active in the collection and storage of large production areas (peanut basin). Following the fall in prices observed last month, the trend over this month has been rather towards price stability of farm-to-field and wholesale prices because of the good supply of millet, which is facing a good and growing demand. The level of household consumption has risen with good availability. In the consumer areas too, wholesalers still make large orders because the transactions in the retail markets are very active. The exchanges between processors are always noted in the zone. During the month of December 218, it was noted that, the continued marketing of new stocks of millet improved the supply. However, in the face of ever-increasing demand, prices have become stable and could be maintained over the next few weeks. The millet market during the month of December 218 was characterized by a good availability of supply on all the markets monitored. This availability of supply has led to a fall in the price level in the markets analyzed, with the exception of the Pouytenga grouping market, where there is an availability of supply deemed average with price stability. Farmer stock levels are important. The situation of the millet market during the month of December 218 was not very different from that of maize. In fact, millet harvesting is complete in most major production areas, namely Upper East and Upper West. Large stocks of millet are directly transferred from farms to warehouses. Trade in domestic and international markets, particularly those in Ouagadougou, is still ongoing. Markets are expected to see an increase in available quantities because of stocks from planting for food and job programs. Prices remained stable for the month of December but may change over the next few weeks. During the month of December 218, the millet market was characterized by the presence of new millet on the markets and this caused an increase in supply. This situation has motivated some warehouse merchants to continue their purchases in anticipation of institutional purchases across the country. The overall price trend has been towards price stability and this could continue over the next few weeks. During the month of December 218, the trend has been towards price stability on almost all the monitored markets and more particularly on those of the main producing countries. The slight decline in millet prices during this harvest period can be explained by the purchases of larger stores for this cereal, which is the only one to have experienced a significant seasonal increase (on average +25 FCFA / kg between the harvests and the harvest). Soldering during the last campaign. Given the speculation it is subject to and production that is growing at a slower pace than for other cereals in the sub-region, the potential for higher millet prices during the lean season seems clearly stronger for this cereal than for others. It is therefore advisable again this year to favor the storage of millet for sales during the lean season. Barometer of millet stocks in West Africa Very important x Very low 8

9 The Sorghum market in West Africa Recent evolution of average prices of sorghum Senegal Guinee Mali RCI BF Ghana Togo Benin Niger Stability - Stability Stability Slight decrease Stability Slight decrease Stability Stability,44 Sorghum in Farm-gate (USD/kg),35,26,25,28,26,18,18,22,19 Sorghum in production areas (USD/kg) Wholesale price of sorghum in production areas of West Africa (USD/MT),46,39,28,28,26,3,33,35,39,22,28,19,26,26,25, Janv Fev Mars Avril Mai Juin Juillet Août Sept Oct Nov Déc ,49,48 Surghum in consumption areas (USD/kg),53,44,38,4,32,33,28,4,37,32,29,23,26,21 Médian 9

10 Senegal Mali Burkina Faso Niger WAGN s Advice During the month of December 218, the sorghum crops are finished in the south and in the center but are not yet put on the market. This explains the fact that prices have not changed yet. The market remained the same as the previous month. There is still a weakening of supply and a growing demand but not yet fully satisfied. With this scarcity of the product in the production areas and wholesalers, the retail markets are still experiencing supply interruptions correlated with the localized rise in prices in certain markets such as Dakar. Faced with this situation, prices remain stable and still high at all levels in the scrutinized markets. The trend during the month was towards stability in the markets monitored. Indeed, there has been a clear improvement in supply following the destocking of old stocks operated by the grain operators coupled with the continued marketing of new crops. This trend of price stability could continue over the next few weeks. Like the market for millet and maize, the sorghum market during the month of December 218 was marked by a good availability of supply. The good availability of supply has led to lower prices in the markets analyzed. Localized increases have however been noted in the Dédougou, Ouaga and Bobo markets. Farmer stock levels are important. This trend may stabilize in the coming weeks. During the month of December 218, the trend has been towards price stability. The functioning of the markets' activities was marked by an average availability of supply in all the markets resulting from the storage operated by the cereal actors. Over the next few weeks, we could see a slight increase if the markets are not sufficiently resourced. During the month of December 218, the trend has been towards price stability or even a slight fall in prices on the analyzed markets. With the good harvests taking place and the intensification of marketing could lead to price declines over the next few weeks, it again reiterated to holders of old stocks of sorghum and those who harvested early to go on sale without delay in the next few days before the price decreases start to be more pronounced. Barometer of sorghum stocks in West Africa Very important x Very low 1

11 Actualities Institutional investors like WFP use more local grains: Institutional purchases of local grains in West Africa are gaining momentum : Burkina expects good cereals and food crops: The 218/19 national cereal forecast is estimated at 4,953,257 tonnes (t), compared to the final total production of the 217/18 crop year and the average over the last five seasons, it has risen by 21.91% and 11.77% respectively : https : // Wholesale sales and purchases Côte d Ivoire : Offer for sale: yellow maize and local rice Amount yellow maize: 2 tons = 145 FCFA / KG Quantity of local rice: 35 tons = 485 FCFA / KG / 5 FCFA / KG Availability: 8 months from now Place of delivery: Abidjan (Côte d'ivoire) Contacts: MR MAH Rodolphe Telephone: Benin : Seller: 3 tons of certified seed of rice of variety IR 841, produced campaign Availability: From now Delivery place: Bohicon Contacts: The Regional Union of Rice Farmers of Borgou / Alibori through theinterprofessional comity of cereals (229) or (229) Côte d Ivoire : Seller: SARAWONON GROUP offers 6, tons of maize grain for export to Ghana, Senegal or Burkina. Packaging: PP bag of 5 kg Bank guarantee: SBLC, LC, pre-financing Delivery periods: December 216: 15 tons; January 217: 15 tons; February 217: 15 tons; March 217: 15 tons Delivery locations: Ghana: Kumasi or Accra; Senegal: Dakar; Burkina Faso: Ouagadougou Price: unchanged over the entire period for a global commitment: Ghana: 6 GHS / bag unchanged; Senegal: CFAF 165 / kg; Burkina Faso: 155 FCFA / kg. Contacts: Chief Executive Officer: Mr. SEKONGO P Emmanuel: sarawonongroupsarl@gmail.com; Mobile: Côte d Ivoire : Wholesale Offer: for white sesame delivered Abidjan from the company Aqua Eburnie Delivery period: immediately Delivery locations: Abidjan Packaging: Bags ready for export Price: 55 FCFA / kg Contacts : Sonia KOUADIO, manager, aquaeburnie1@yahoo.fr 11

12 Sources of information use by WAGN to publish this bulletin: Farmer Organizations, traders et processor of grain sector in West Africa; Market Information Systems members of RESIMAO; Afrique Verte network; Monitoring Center for International Statistics on Rice (OSIRIZ, CIRAD) ; Agricultural Market Information System (AMIS MONITOR FAO); Regional center AGRHYMET (CILSS). Disclaimer: Data, information and recommendations in this publication are based on the work of collection and analysis of market analysts of the West African Grain Network (WAGN). Even if significant care is taken to ensure the reliability of the information before publication, the WAGN, its employees and its technical and financial partners are not responsible for any error, omission or false information published or losses incurred directly or indirectly based on this information. In addition, the recommendations in this document does not constitute an official position of technical and financial partners of the WAGN. Coordinator of the Market Information Service of WAGN: (228) Market; Analysts of WAGN : Niger : Assoumane Boubacar DANBADJI danbadji@gmail.com, ; Bénin : Djibril AZONSI : azdjibril@yahoo.fr, / ; Burkina Faso : Tiatité NOUFE : noufe.tiatite@gmail.com, / ; Togo : Arzouma Yakouba; NAGNANGO : nagnango@yahoo.fr, , ; Ghana : Rashad KADIRI : rashadkadiri@yahoo.com, / ; Côte d Ivoire : Constance YAO NZUE épse KONAN : constancekonan@yahoo.fr, ; Mali : Ousmane Moctar N DIAYE; ousmane_moctar@yahoo.fr, ; Senegal : Cheick Ousmane LOUM : loumc@hotmail.fr,