Ex-farm wheat price continues a downward trend in the Netherlands

Published 2024년 5월 24일

Tridge summary

The agricultural news article reports a decrease in the farm-gate wheat price index by 11% in two months and 31% year-on-year, reaching 94 points in March 2024. Despite rising consumer prices for bread and bread products by 1% from January 2024, producer prices increased by 1% from January 2024 and 3% year-on-year, showing resilience to changing grower prices due to contractual coverage of raw material and price risks in the short term. International grain markets are witnessing prices approaching pre-war levels, amidst the lowest global wheat stocks since the 2016-2017 season, primarily due to challenges in China, Ukraine, and India. However, increased supplies from Russia and increased export volumes from Ukrainian ports have mitigated the impact of low inventories. Despite poorer harvests due to adverse weather conditions, global production estimates for May 2024 are approximately 790 million tons, though new harvest prices are expected to rise due to high rainfall affecting crop quality.

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Original content

The farm-gate wheat price index fell further in March 2024, reaching 94 points. This is 11 percent lower than two months earlier and 31 percent lower than in the same month last year. The consumer price index for bread and bread products reached 126 points in March 2024. That is approximately one percent higher than in January 2024 and less than half a percent lower than in March 2023. The producer price index stood at 128 points in March 2024, one percent higher than in January 2024 and three percent higher than a year earlier. Price development The consumer price index for bread reached 126 points in March, slightly higher than the price level in January this year. It is in line with the 2023 price level and still well above the 2022 price level when it was around 110 points. The producer price index stood at 128 points in March 2024, one percent higher than in January 2024 and three percent higher than a year earlier. Stable consumer and product prices Consumer and producer ...

Source: AkkerbouwActueel