After rising by 10.4% a quarter earlier, the prices of the main food products imported by the UEMOA countries rose by 11.4% during the second quarter of 2022.

According to the BCEAO, the acceleration in the price of imported foodstuffs reflects increases of 19.4% in wheat prices, 15.7% in vegetable oil prices, 8.9% in prices rice and 1.3% of sugar prices.

According to the same source, wheat prices have risen, mainly due to the conflict between Russia and Ukraine, which is restricting exports of this product, whose global supply is provided up to 30.0% by these two countries. For their part, vegetable oil prices were supported by the outlook for strong demand for American supplies and disruptions in shipments from the Black Sea region. Also, rice prices are driven by strong demand in the animal feed industry.

The price index for the main food products imported by the UEMOA countries rose by 29.2% in the second quarter of 2022 on an annual basis. This trend reflects higher prices for wheat (+58.0%), oils (+26.4%), rice (+25.3%) and sugar (+6.9%). Similarly, the prices of food products imported by the UEMOA countries, expressed in CFA francs, increased by 49.0%, including 78.7% for wheat, 46.0% for vegetable oils, 41.8% for rice, and 29.1% for sugar.