Report: Price growth expectations for 9 food and agricultural products until March 2023.

In the global report on food products, published by the Chamber of Food Industry of the Federation of Industries, prices of 9 food and agricultural products are expected to increase, “refined white sugar, raw sugar, palm oil, soybean oil, coffee, cocoa, paddy rice, yellow corn and of wheat” until March 2023.

He pointed to the decrease in the prices of 3 food and agricultural commodities, “wheat, yellow corn and coffee”, during the month of November compared to October.

The report, a copy of which was obtained by Amwal Al Ghad, indicated an increase in the prices of “refined white sugar, raw sugar, paddy rice, olive oil, soybean oil, cocoa and soybean oil” over the past month.

Raw and white sugar prices rose during November

Refined white sugar prices rose over the past month to around $542.05 per ton, compared to October last year, when it was around $538.78, and at an annual rate of 6%, and is expected to rise to March 2023 to the Information and Decision Support Center based at the Chicago Stock Exchange.

The report showed that prices for raw sugar extracted from sugar cane or beet rose last November to a record $427.7 a tonne, compared to $406.31 a tonne last October, while falling at an annual rate of 1, 8%, expected to grow by next March, according to the Center for Information and Decision Support based at the London Stock Exchange.

Low prices for wheat and corn

Wheat prices fell to $308.50 a tonne last November, compared to $328.34 a tonne last October, up 1.3% year-on-year and expected to rise through March 2023.

Yellow corn prices fell during November 2022 to around $263 per ton, compared to last October’s price of $270. It is expected to grow in March 2023, and at the annual level it has grown by 17%.

27.1% increase in paddy rice prices

The report showed rice prices fell 5% to around $431 a tonne in October, compared to $439 in September 2022, while rising 10% year-on-year. Likewise, rice prices rose 25% to about $420 per ton, compared to $428, while year-on-year gains. By 6.3%, rice prices broke through 100% to about $412 per ton, in compared to 424 dollars per ton, while at the annual level they increased by 10.3%.

The price of paddy rice rose to $389.53 a tonne last November, compared to $365.31 in October. It also grew by 27.1% YoY and is expected to grow by March 2023.

Growth of olive oil prices in the world

On December 8, the price of extra virgin olive oil rose to around EUR 5,308.16 per ton, which is an increase of 52.6 percent compared to the previous year, or EUR 4,983.52 per ton, which is an increase of 59 percent compared to the same period last year, according to data from the Olive Association in Spain.

Last month, the price of palm oil fell to a record $907 per ton, compared to October’s $889 per ton, and on an annual basis, it also fell by 19.3 percent, and is expected to grow until March 2023. .

Soybean oil prices rose last November to about $1,637.59 per ton, compared to October prices of about $1,548.08 per ton, also up 25.3% year-on-year, and are expected to rise until next March.

The price of sunflower oil fell to around $1,496.22 a tonne last August, compared to $1,556.87 in July, also down 0.6 percent year-on-year.

Butter prices in New Zealand / Australia this December ranged between $4700-4850 per tonne, while they ranged between $5725-7050 per tonne in Western European countries, and skimmed milk powder prices in New Zealand / Australia ranged between $3075 – 3175 dollars per ton, while in Western European countries it ranged between 2900-3425 dollars per ton, and the prices of milk powder – whole in New Zealand/Australia ranged between 3350-3400 dollars per ton, while they ranged between 4300-4775 dollars. dollars per ton in Western European countries.

On December 8, the price of cheddar cheese ranged between $4,800-5,050 per ton in New Zealand / Australia, local whey between $900-1,150 per ton, and margarine between $7,825-9,175 per ton in Western Europe.

Beef prices fell 12.6% in October

The price of beef during last October fell 12.6 percent, to a record 5.46 dollars per kilogram, compared to the same month in 2021, and it also fell from September, when it was 5.65 dollars per kilogram, while the price of poultry settled at 3,310 dollars per ton, while it grew by 42.1% on an annual basis.

Coffee prices fell to a record $4.41 per kilogram last month, compared to $5.17 per kilogram last October. They also fell by 22.9% year-on-year, according to the World Bank, and are expected to rise until March. Tea prices also fell, to a record $3.14 per kilogram in October, compared to $3.32 per kilogram in September, an increase of 9% year-on-year.

The price of cocoa rose to around $2.45 per kilogram in November, compared to $2.34 per kilogram in October, while it was stable year-on-year and is expected to rise until March 2023, as well as the price of orange fruit at about 1070 dollars. per ton last October, compared to $930 per ton, while it rose 65.2% year-on-year.

Leave a Reply

Your email address will not be published. Required fields are marked *