Yemen Market and Trade Bulletin February 2026 - Issued on 15th March 2026

KEY HIGHLIGHTS

SHORT-TERM OUTLOOK AND IMPLICATIONS ON FOOD SECURITY: Yemen’s food security outlook remains extremely dire across all governorates, with severe conditions expected to persist through February 2026. These risks are amplified by regional instability, elevated global food prices, falling household incomes and localized access constraints that limit families’ ability to obtain basic food. According to the latest IPC analysis, more than 18 million people—around half of Yemen’s population—are expected to remain severely food insecure (IPC Phase 3 or above) through February 2026, with a high risk that this figure will persist or rise under mounting pressures. In Government-controlled (GoY) areas, recent central bank measures have temporarily strengthened the Yemeni riyal and eased food prices, but these improvements are fragile. In areas under the Sana’a-Based Authorities (SBA), the outlook is more concerning, with communities affected by declining rainfall, frosts, localized conflict, lower import volumes, wage declines and rapidly eroding purchasing power. Agricultural production prospects are average or below average, and a resumption humanitarian food assistance and broader sectoral support remains unlikely. Close monitoring of key drivers—food prices, policy and regulatory changes, port and import operations, climatic shocks (including frosts), conflict dynamics and wider regional crises, including spillover from the conflict in Iran and the broader Middle East—will be essential. FAO, in collaboration with partners, has recently completed an IPC analysis for SBA controlled areas; the analysis for GoY areas is planned for early April, with a joint IPC report expected in April 2026.

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