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January 2023 Market Report
Fresh Tomato
Fresh Whole Beef
Fruits
Market Intelligence Analytics Team, Rene Salinas, Bojan Mijatovic, Theo Venter, Juan Carlos, Mzingaye Ndubiwa
Published Jan 27, 2023
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Food prices touched their lowest level in 2022 during December, but upward pressure is mounting. Demand in late 2021 and early 2022 experienced a sharp increase driven by the lifting of pandemic restrictions and expectations of further growth. However, after inflation started to hit, coupled with a higher cost of capital, consumer demand began to decline, leaving a part of the imports of late 2021 and early 2022 unconsumed, driving prices down. A high amount of inventory of several products was reported as H2 2022 started.
Nonetheless, upward pressure is now mounting from two fronts: a weaker US dollar and stronger oil prices. A reversal in agri-products' prices downward trend can already be seen in some products, such as beef, salmon, and nuts. This could be exacerbated by other potential bullish factors such as the worsening of geopolitical tensions, unfavorable weather, and the outbreak of supply-disrupting diseases.
Nonetheless, upward pressure is now mounting from two fronts: a weaker US dollar and stronger oil prices. A reversal in agri-products' prices downward trend can already be seen in some products, such as beef, salmon, and nuts. This could be exacerbated by other potential bullish factors such as the worsening of geopolitical tensions, unfavorable weather, and the outbreak of supply-disrupting diseases.
Table of contents
Executive Summary
•Part I - Feature of the Month
•Part II - Input Prices
•Part III - Fruits & Vegetables
•Part IV - Grains
•Part V - Meat
•Part VI - Seafood
•Part VII - Oilseeds
•Part VIII - Nuts
•Part IX - Sugar
•Part X - Coffee
•Part XI - Value-Added Fruits
Appendix
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