Informations Rapides · 30 August 2024 · n° 222

In July 2024, the fall of agricultural producer prices intensified over one month and year on year Indices of agricultural prices - July 2024

In July 2024, agricultural producer prices went down year on year for the sixteenth consecutive month (‑3.7% after ‑2.3% in May). Over one month, agricultural producer prices without seasonality – excluding fruits and vegetables (including potatoes), cut flowers and potted plants – went down (‑1.1% after ‑0.1% in June).

Agricultural input purchase prices fell as well year on year for the fifteenth consecutive month (‑2.1% in July, after ‑2.9% in June). Over one month, they dropped by 0.2% (after a stability in June).

In July 2024, cereal prices fell back over one month (‑5.0% after +0.6% in June and +16.5% in May), the weakness of French production was more than offset by abundant harvests in the rest of the world. Prices went down for maize (‑1.5% after +11.0%) and soft wheat (‑5.6% after +1.0%), due to upwards revisions of worldwide production estimations. The fall in prices softened for barley (‑7.8% after ‑13.4%) and intensified for durum wheat (‑9.0% after ‑3.9%). Year on year, the fall in cereal prices intensified (‑10.1% in July after ‑1.4% in June and +5.6% in May).

Oilseed prices went up over one month in July 2024 (+2.2% after ‑1.0% in June). Rapeseed prices bounced back (+3.8% after ‑1.9%), and those for sunflower sped up (+2.1% after +1.4%), due to downwards production revision. Year on year, oilseed prices went down (‑2.0% in July after +4.9% in June and +8.8% in May).

In July 2024 fresh vegetable prices bounced back year on year (+6.9% after ‑0.9% in June and +7.6% in May). Prices bounced back for tomatoes (+25.3% after ‑27.8%) and zucchinis (+17.6% after ‑2.4%). Prices for leeks continued to rise markedly (+51.9% after +52.3%). Those of shallots went up for the seventh consecutive month (+34.9% after +29.5%) and those of red beetroots for the twenty-fifth consecutive month (+20.8% after +10.3%). The rise in prices continued to softened for cucumbers (+14.6% after +19.9% in June) and salads (+6.2% after +19.6%). Prices fell back markedly for artichokes (‑28.7% after +127.1%), for cabbages (‑23.9% after +24.1%), and more moderately for eggplants (‑7.6% after +13.1%). The fall in prices intensified for melons (‑13.8% after ‑6.8%) and softened for radish (‑2.2% after ‑7.7%); those of carrots went down for the fourth consecutive month (‑4.4% after ‑7.8%).

In July 2024, fresh fruit prices dropped again (‑1.8% after ‑4.3% in June and +11.3% in May). Prices for peaches and nectarines continued to drop (‑11.7% after ‑11.2%), due to the abundant French production and a demand limited by poor weather conditions. Conversely, they bounced back for apricots (+24.9% after ‑2.9%), because of a weak harvest, and for cherries (+7.0% after ‑7.3%). Prices sped up for strawberries (+5.8% after +2.4%) and raspberries (+9.3% after +5.6%).

In July 2024, animal prices continued to rise slightly over one month (+0.4% after +0.7% in June). They sped up for large cattle (+1.1% after +0.2%) but slowed down for calves (+0.7% after +2.0%). Those of pigs were stable (after +3.1% in June). For the first time in eleven months, sheep prices fell back (‑2.5% after +0.2%). The fall in poultry prices continued to soften (‑0.3% in July, after ‑1.5% in June and ‑3.3% in May).

Year on year, animal prices went down in July 2024 for the eleventh consecutive month (‑2.7% after ‑3.1% in June). The fall of prices was more substantial for poultry (‑11.5% after ‑12.7%) and pigs (‑8.6% after ‑6.0%). Large cattle prices rose for the first time since eleven months (+1.1% after ‑0.7%). They continued to go up for sheep (+12.7% after +14.7%) and calves (+4.3% after +2.7%).

In July 2024, egg prices bounced back after a five-month decline (+6.9% after ‑6.1% in June). Year on year, they dropped for the thirteenth consecutive month (‑4.0% after ‑20.2% in June).

Milk prices fell back over a month (‑0.9% after +0.1% in June). Prices of cow milk went down by 1.0% (after +0.2%). Those of goat milk went up slightly (+0.2% after +0.1%). Year on year, milk prices were nearly stable (‑0.1% after +1.0% in June).

In July 2024, the purchase prices of intermediate consumption fell slightly over one month (‑0.2% after a stability in June). Energy prices fell back (‑1.1% after +0.4%). They continued to go down for fertilizers and soil improvers (‑0.6% after ‑0.5%) and plant protection products (‑0.2% after ‑0.8%). They were stable for seeds (after ‑0.4% in June), the maintenance of buildings (after +0.1%), and nearly stable for the “other goods and services” (+0.1% after a stability in June). Prices went up for animal feed (+0.2% after +0.1%), veterinary expenses (+0.3% after a stability), and the maintenance of materials (+0.4%, as in June). Those of small equipment and tools bounced back (+0.6% after ‑0.5%). Year on year, the fall in purchase prices of intermediate consumption continued to soften (‑2.9% in July, after ‑3.8% in June and ‑4.0% in May).

In July 2024, the prices of investment goods were stable over one month (after ‑0.2% as in June) and went up year on year (+0.3% after +0.1% in June).

The year-on-year percentage change of the global index of producer prices for agricultural products in June 2024 has been revised upwards by 0.7 percentage points to ‑2.3%, due mainly to revisions on wine prices. The year-on-year percentage change of the global index of the purchase prices of inputs for agricultural production in June 2024 has been revised downwards by 0.1 percentage points to ‑2.9%.