Grains and oilseeds will lead the surge, with annual average price increases of 16%
Surging demand for food, feed and fuels are combining with low stock levels to create extremely tight markets.
Global agricultural commodity prices are booming. Prices, as
indicated by the Economist Intelligence Unit's food, feedstuffs and beverages
(FFB) index, are on course to rise by 16% this year—repeating the strong
performance of 2006.. And unfavourable weather conditions, combined with
competition for acreage, imply that it will take some time still before supply
manages to catch up with demand. The FFB index will thus rise by a further 2% a
year in 2008-09, suggesting the commodity-wide price boom is far from over.
Grains and oilseeds will lead the surge, with annual average
price increases of 16% and 29%, respectively, expected this year. The EIU's
latest market assessments point to both markets remaining in deficit until at
least 2009, implying further upward price pressure. Prices for both markets are
set to rise by 5% in 2008.
Related news
Related news
What makes us add the product to the cart – research
The latest joint research by PwC and Publicis Groupe Hungary…
Read more >Energy drinks are now legal: what every shopkeeper should know
New regulations on the sale of energy drinks came into…
Read more >The prices of household and hygiene products can also be tracked in the Price Watch
The online Price Monitoring System operated by the Hungarian Competition…
Read more >