Informations Rapides · 31 August 2023 · n° 225

In July 2023, agricultural producer prices continued to fall year on year (‑6.1% after ‑6.4 %)  Indices of agricultural prices - July 2023

In July 2023, year on year, agricultural producer prices went down again (‑6.1% after ‑6.4% in June and ‑9.4% in May). These prices were nonetheless still 16.8% above their July 2021 level: cereal, wine, animal, milk and egg prices remained above their level of two years ago, while those for oil seed were below. Over one month, excluding fresh fruits and vegetables, agricultural producer prices rebounded (+0.3% after ‑0.2%).

In July 2023, input purchase prices fell again over one month (‑0.8% after ‑1.1% in June and ‑1.5% in May) and year on year (‑5.3% after ‑4.8% and ‑1.9%). However, they were still 18.0% higher than in July 2021.

In July 2023, cereal prices accelerated over one month (+4.6% after +3.4% in June and ‑10.0% in May). Soft wheat prices were up again (+5.9% after +2.8% and ‑9.8%), due in particular to the end of the agreement authorising exports from Ukraine and Russia via the Black Sea. Maize prices were also up (+2.3% after +3.2% and ‑12.5%), partly due to the destruction of port facilities and grain in Ukraine. Year on year, cereal prices continued to drop substantially (‑28.2% in July after ‑37.5% and ‑43.2%), mainly due to a “base effect” (they had risen sharply throughout 2021 and in the spring of 2022). Nevertheless, they remained above their level of two years earlier (+14.6% compared with July 2021).

Oil seed prices also sped up in July 2023 (+9.3% over one month after +3.5% in June and ‑5.1% in May). They were driven up by rapeseed prices (+9.5% after +4.2% and ‑4.7%) due in particular to concerns about the drought in the United States and Canada, by sunflower prices (+9.4% after +0.4% and ‑7.3%) and by soybean prices (+7.8% after +1.8% and ‑2.2%). Year on year, oil seed prices collapsed by 27.6% in July 2023 (after ‑41.4% in June and ‑49.6% in May). They were 10.0% lower than in July 2021.

Fresh vegetable prices fell back in July 2023 year on year (‑0.7% after +16.0% in June). Among the main seasonal products, only melon prices rose (+9.0% after +64.0%). Conversely, prices fell sharply for tomatoes (‑26.3% after +3.5%), courgettes (‑19.4% after +5.9%) and cucumbers (‑13.1% after ‑12.2%). The fall was more moderate for salads (‑0.8% after +6.8%). However, in July 2023, fresh vegetable prices were still 3.5% above their July 2021 level.

Year on year, fresh fruit prices fell back sharply in July 2023 (‑8.5% after +12.5%). Plum (‑35.6%) and apricot (‑19.3% after +6.4%) prices dropped significantly. The fall was less pronounced for peaches (‑7.5% after +3.4%) and nectarines (‑4.5% after +5.0%). Prices rose slightly for strawberries (+1.4% after +6.1%) and raspberries (+1.4% after +5.8%), while cherry prices continued to rise sharply (+71.5% after +57.8%). Fresh fruit prices were well below their July 2021 level (‑15.1%).

In July 2023, animal prices were virtually stable over one month (+0.1% after ‑0.4%). Pig prices rebounded (+5.2% after ‑1.3%), while large cattle prices fell back (‑1.4% after +0.3%) and poultry prices (‑1.4% after ‑0.8%) remained down.

Year on year, animal prices continued to slow down, but kept rising (+5.0% in July 2023 after +7.6% in June and +9.7% in May) driven by a surge of pig prices (+23.6% after +26.0%); those for large cattle were unchanged (0.0% after +1.9%) and those for poultry were almost stable (‑0.1% after +5.7%). In July 2023, animal prices were 34.3% higher than in July 2021.

In July 2023, egg prices continued to drop markedly over one month (‑17.2% after ‑14.2% in June and +2.1% in May). Year on year, they fell back sharply (‑13.3% after +13.8% in June and +27.9% in May), but nevertheless remained well above (+80.5%) the level of two years ago.

The price of cow milk fell again over one month (‑0.5% in July after ‑2.0% in June and ‑1.6% in May) and slowed down year on year (+1.9% after +2.8% and +5.3%). It remained much higher than in July 2021 (+23.2%).

In July 2023, the purchase prices of intermediate consumption continued to go down over one month (‑1.1% after ‑1.3% in June and ‑1.8% in May). Prices for fertilizers and soil improvers (‑6.4% after ‑6.0% in June and ‑3.8% in May), animal food (‑1.8% after ‑1.5% and ‑1.6%) and seeds (‑0.3% after ‑1.0% and ‑0.1%) fell. Prices were stable or slightly up for maintenance of buildings (0.0%, after +0.2% in both June and May), plant protection products (+0.1% as in June, after +0.2% in May), other goods and services (+0.2% after 0.0% in both June and May) and maintenance of materials (+0.2%, as in June and May). Energy prices rose sharply (+2.7% after +1.0% and ‑5.4%). Year on year, the purchase prices of intermediate consumption continued to fall in July 2023 (‑7.8% after ‑7.2% in June and ‑3.9% in May). They were nevertheless 19.6% higher than in July 2021.

In July 2023, the prices of goods and services contributing to investment were virtually stable over one month (‑0.1% after ‑0.5% in June and ‑0.4% in May). They rose by 3.3% year on year (after +3.7% and +4.9%) and by 13.2% over two years.

The year-on-year percentage change of the index of producer prices for agricultural products in June 2023 has been revised downwards by 0.1 percentage points –compared to the previous release– at ‑6.4%. The year-on-year percentage change of the index of the purchase prices of inputs for agricultural production in June 2023 has also been revised downwards by 0.1 percentage points at ‑4.8%.