The global agricultural commodity market is expected to cool down in 2024
Market & Price Trends
Published Nov 29, 2023
Investment bank Rabobank predicts that prices of important agricultural products such as corn, soybeans, sugar, and coffee will decrease due to production adjustments to high prices and weak demand. The bank also expects lower agricultural commodity prices to reduce food price inflation. However, economic challenges, including inflation and high interest rates, will continue to limit growth in agricultural commodity demand.
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Source: bnews.vn Rabobank predicts prices of important agricultural products such as corn, soybeans, sugar and coffee will decline as production has had time to adapt to high prices while demand remains weak. Illustration photo: EPA-EFE/TTXVN The above forecasts are given in the latest annual Agricultural Commodity Market Outlook report by investment bank Rabobank. With lower agricultural commodity prices, one of the main drivers of food price inflation will decline. Although price and supply pressures have eased, Rabobank expects demand to remain weak as consumers continue to face economic challenges, including inflation and high interest rates. Overall, the weak economic growth outlook in 2024 will limit agricultural commodity demand growth. Mr. Carlos Mera, head of agricultural commodities at Rabobank, said that over the past three years, agricultural producers have been grappling with the consequences of conflict, adverse weather, high input inflation and weak consumer demand. ...