Informations Rapides · 29 September 2023 · n° 255

In August 2023, agricultural producer prices continued to fall year on year (‑7.4% after ‑5.4 %) Indices of agricultural prices - August 2023

In August 2023, year on year, agricultural producer prices went down again (‑7.4% after ‑5.4% in July and ‑5.7% in June). These prices were nonetheless still 13.1% above their August 2021 level. Animal, milk and egg prices remained above their level of two years ago, while those for cereals, oil seed, fresh fruits and vegetables stayed below. Over one month, excluding fresh fruits and vegetables, agricultural producer prices fell back (‑2.0% after +0.4%).

In August 2023, input purchase prices bounced back over one month (+0.9% after ‑0.9% in July and ‑1.1% in June), but continued to fall year on year (‑5.0% after ‑5.4% and ‑4.8%). However, they were still 18.3% higher than in August 2021.

In August 2023, cereal prices fell back over one month (‑2.2% after +4.6% in July and +3.4% in June). Indeed, soft wheat prices went down (‑3.6% after +5.9% and +2.8%), due to lower production quality. Maize prices also went down (‑2.5% after +2.3% and +3.2%). Year on year, cereal prices continued to drop substantially (‑28.9% in August after ‑28.2% and ‑37.5%), mainly due to a “base effect” (they had risen sharply throughout 2021 and in the spring of 2022). They were slightly below their level of two years earlier (‑0.6% compared with August 2021).

Oil seed prices also fell back in August 2023 (‑3.5% over one month after +9.3% in July and +3.5% in June). They were driven down by sunflower prices (‑5.3% after +9.4% and +0.4%) and rapeseed prices (‑3.6% after +9.5% and +4.2%), for which rates remained very calm in August. Soybean prices rose again (+4.6% after +7.8% and +1.8%). Year on year, oil seed prices dropped by 27.8% in August 2023 (after ‑27.6% in July and ‑41.4% in June). They were 17.2% lower than in August 2021.

Fresh vegetable prices dropped significantly in August 2023 year on year (‑8.4% after ‑0.7% in July). Among the main seasonal products, cucumber prices continued to go down (‑36.6% after ‑13.1%) and melon prices fell sharply (‑38.5% after +9.0%). The fall was more moderate for salads (‑2.0% after ‑0.8%). Conversely, prices bounced back for courgettes (+21.0% after ‑19.4%) and tomatoes (+18.0% after ‑26.3%). In August 2023, fresh vegetable prices were below their August 2021 level (‑4.2%).

Year on year, fresh fruit prices fell again substantially in August 2023 (‑10.4% after ‑8.5%). Prices dropped again for plums (‑38.5% after ‑35.6%) and apricots (‑39.3% after ‑19.3%). The fall was also significant for peaches (‑22.2% after ‑7.5%) and nectarines (‑17.8% after ‑4.5%). Grape prices fell back (‑8.4% after +18.0%), while pear prices sped up sharply (+54.7% after +55.3%). Fresh fruit prices were well below their August 2021 level (‑17.6%).

In August 2023, animal prices fell over one month (‑1.4% after +0.1% in July and ‑0.4% in June). Pig prices fell back (‑4.5% after +5.2% in July and ‑1.3% in June) and poultry prices remained down (‑1.5% after ‑1.4% and ‑0.8%). Conversely, large cattle prices slightly rose again (+0.3% after ‑1.4%).

Year on year, animal prices continued to slow down (+2.0% in August after +5.0% in July 2023 and +7.6% in June). This slowdown is driven by pig prices (+13.0% after +23.6%). Large cattle prices were nearly stable (‑0.1% after 0.0%) and those for poultry fell more significantly (‑3.7% after ‑0.1%). In August 2023, animal prices were 32.1% higher than in August 2021.

In August 2023, egg prices continued to drop over one month (‑12.1% after ‑17.2% in July and ‑14.2% in June). Year on year, they fell sharply (‑29.7% after ‑13.3% in July and +13.8% in June), but nevertheless remained well above (+32.6%) the level of two years ago.

Prices of cow milk fell again over one month (‑0.8% in August after ‑0.3% in July and ‑1.8% in June) but they were still up year on year (+2.9% after +2.3% and +3.0%). They remained much higher than in August 2021 (+22.3%).

In August 2023, the purchase prices of intermediate consumption bounced back over one month (+1.2% after ‑1.2% in July and ‑1.3% in June). Energy prices sped up (+10.3% after +2.7% and +1.0%), those for fertilizers and soil improvers bounced back (+0.4% after ‑6.8% in July and ‑6.1% in June), as did those of seeds (+0.3% after ‑0.5% and ‑1.0%). The prices for the maintenance of materials kept on rising slightly (+0.3% after +0.2% in July and June). Animal food prices were down again (‑1.3% after ‑1.7% and ‑1.5%). Prices were roughly stable for plant protection products (+0.1% as in July, after +0.3% in June), for other goods and services (‑0.1% after +0.2% in July and 0.0% in June) and for the maintenance of buildings (0.0% after ‑0.1% in July and +0.2% in June). Year on year, the purchase prices of intermediate consumption continued to fall in August 2023 (‑6.7% after ‑7.8% in July and ‑7.2% in June). They were nevertheless 20.4% higher than in August 2021.

In August 2023, the prices of investment goods slightly fell over one month (‑0.2% after ‑0.3% in July and ‑0.4% in June). They rose by 0.8% year on year (after +3.1% and +3.8%) and by 11.7% over two years.

The year-on-year percentage change of the index of producer prices for agricultural products in July 2023 has been revised upwards by 0.7 percentage points –compared to the previous release– at ‑5.4%, due to a revision for higher industrial beetroot prices. The year-on-year percentage change of the index of the purchase prices of inputs for agricultural production in July 2023 has been revised downwards by 0.1 percentage points at ‑5.4%.