FAO Food Price Monitoring and Analysis (FPMA) Tool
Information and analysis on domestic prices of basic foods mainly in developing countries
Description
The FAO Food Price Monitoring and Analysis (FPMA) Tool is a web-based app linked to existing national data collection systems that allows national and international stakeholders to easily monitor, analyse and disseminate price information on a wide range of agricultural commodities on the markets around the globe with daily or monthly frequency. FPMA facilitates the easy visualization of time series data and aids basic price analyses and reporting. FPMA also provides early warnings of high food prices at a country level that may negatively affect food security. As of January 2023, FPMA features over 1300 domestic and international food price series (i.e. commodity prices in markets across countries) and analytics. The tool was developed in 2010 under an FAO initiative to monitor the soaring food prices. FPMA also has country-level versions that contain a broader selection of commodities and markets than available in the global tool. National FPMA tools have been implemented in Tajikistan and Guatemala, and works are continuing in Zimbabwe and Uzbekistan.
Technology
The FPMA tool is a web-based application providing easy access to the large amounts of data held in its database. It allows users to quickly browse single price series, compare countries, markets and commodities, and download charts, data and such basic statistics as averages, standard deviations and percentage changes. The FPMA database holds monthly and weekly retail and wholesale prices for several food commodities in selected markets. For each price series, supplementary information is included about the commodity (per capita consumption, self-sufficiency ratio) and the market (geographic location and brief description).
Target
The tool allows government agencies and international partners to easily monitor, analyse and disseminate price information on a wide range of products in various markets on a daily and weekly basis. It allows consumers to quickly look up prices, make comparisons between products, markets and countries, as well as pull up graphs, data and basic statistics. FPMA has become a valuable Public Good, providing the international community and decision-makers with timely and reliable information, with price data accessed by many international organizations, academia and the media. Major users include the World Bank (WB), the World Food Programme (WFP), the Economic Research Service (ERS) of the United States Department of Agriculture (USDA), the Organization for Economic Co-operation and Development (OECD) and the International Food Policy Research Institute (IFPRI).
Business model
The tool is openly and freely available.
Impact
FPMA allows easy access to the large amounts of data stored in its database and sourced from national stakeholders. Price intelligence can empower agricultural stakeholders in making educated pricing decisions for their activities and businesses.
Partners
National institutions of statistics; international organizations
Four Betters
Better production
Better life
