In August 2024, producer prices of agricultural products increased by 1.1% over one month and were almost stable over one year with a drop of 0.2% compared to August 2023, notes Agreste, the information service. statistics from the Ministry of Agriculture, in its quick information note published on September 27, 2024.
However, this overall stability masks contrasting developments depending on the product: marked drop in cereal prices, relative stability in the prices of livestock and cow’s milk, rebound in the prices of vegetables and fresh fruit.
Cereal prices are collapsing
In August 2024, cereal prices fell by 7.3% over one month, and by 12.4% over one year, in a context of high price volatility on the markets and strong competition from grains from the sea. Black. And this, despite the downward revisions of production within the European Union.
Producer prices for cereals are significantly lower than the average observed over the last four years, driven by the peaks in 2022.
Oilseed prices also fell by 0.7% year-on-year, in particular due to the drop in soybean prices year-on-year (–28.6%), while sunflower and sunflower prices rapeseed are up by 4.9% and 0.8% respectively.
Prices are accelerating for fresh fruits and vegetables
In August 2024, producer prices of fresh fruit are generally up almost 10% year-on-year, after a drop of 2.3% in July year-on-year. The increases are more marked for plums, peaches and nectarines.
Likewise, prices of fresh vegetables accelerated further in August by 10% year-on-year, after +5.3% in July. This increase is linked in particular to the increase in producer prices for melons and cucumbers and to sustained producer prices for tomatoes.
Large cattle prices rebound
In August 2024, livestock producer prices increased slightly year-on-year, by 0.5% after –0.8% in July. Price increases for large cattle rebounded by 2.4% between August 2023 and August 2024, after an increase of 1.1% year-on-year in July. Pig prices remain on a downward trend, -7.6% over one year, after -8.6% over one year in July.
Concerning poultry and rabbits, their prices continued to fall in August, by 8.9% year-on-year, but at a slightly lower rate than in recent months. Between July 2023 and July 2024, they lost 11.1%.
Also in August 2024, in the context of an increase in collection, producer prices of cow’s milk fell slightly over one month by 0.1% and slowed down over one year: +0.3%, after +0 .6% in July. Egg prices rebounded by 2.4% in August 2024 over one year, after falling by 4% between July 2023 and July 2024.
Food prices are barely increasing
The increase in consumer prices for food products and non-alcoholic beverages remains very moderate in August 2024 with, as in July, +0.5% year-on-year.
Consumer prices for meat decreased slightly by 0.5% year-on-year after a drop of 0.6% in July, driven by the fall in poultry prices. Conversely, the prices of oils and fats (+3.4% over one year) and fresh vegetables (+5%) are still dynamic.
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