Prices increase for dairy products and fall for grain on EU market

29.08.2016

The European Commission's commodity price dashboard for July shows dairy products have increased while some cereal and meat products price have fallen.

The European dashboard confirms that grain prices are spiralling downwards.

Prices for maize have decreased both at an EU level by 5.1% and at a global level by 10.8% compared with June. Similarly, EU barley prices have dropped by 2.7% and globally by 10.2% over the past month.

However, soft wheat has increased in price by 0.5% in the EU, yet it declined worldwide by 5.2%. Prices for durum wheat also went down by 13.8% in the EU and 9.4% globally.

Dairy on the up

Prices for dairy produce strengthened last month. Butter was 7.1% dearer than in June in the EU, while its price increased globally by 5.3%. Cheese was up by 1.9% in EU and 1.8% globally.

The meat category differed somewhat, with beef prices down in the EU by 0.9% and up by as much as 3.7% globally. Pork had the biggest monthly price increase in Europe at 6.7%, but decreased by 2.1% on a global scale.

Poultry prices were down, falling by 1.6% in the EU and by 0.3% globally.

Ireland

In Ireland the price for barley was down by 3.3% on the previous month. Beef prices fell by 3.3%, while cheddar cheese prices also fell by 1%. Other commodities on the up were butter by 1% and pork by 4.1%.

Consumer prices

On an annual basis, EU consumer prices failed to reflect changes in agricultural commodity prices in many sectors.

While durum wheat is down 39% on last year, the price of bread has remained exactly the same. Despite the dairy downturn, the price of milk, cheese and eggs has only dropped by 2% for European consumers.

Meat retail prices are down 0.5%, which is more in line with the mixed fortunes of beef, pig and poultry farmers.


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