Producer prices of agricultural products in September 2022 39.4% higher than in September 2021

Prices for slaughter pigs up 63.1% year-on-year

16-Nov-2022 - Germany

Producer prices of agricultural products were 39.4% higher in September 2022 than in September 2021, compared with a rate of change of +34.5% in August 2022 and +33.4% in July 2022. As reported by the Federal Statistical Office (Destatis), prices rose by 2.5% in September 2022 compared with the previous month. At +26.0% year-on-year, prices for plant products increased less than for animal products (+49.1%). In August 2022, the rate of change for crop products had been +21.3%, and +44.1% for animal products.

The price increase for crop products was due, among other things, to cereal prices. In September 2022, the price increase for cereals was 41.0% higher than in the same month of the previous year. In August 2022, the price increase had been 39.7%.

Fruit prices down, vegetable and potato prices up

Producer prices for fruit in September 2022 were 4.7% lower than a year ago. Among others, there were price decreases for dessert apples with -20.6%.

Price discounts on healthful foods like vegetables and zero-calorie beverages lead to an increase in consumption of these foods

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In vegetables (+22.8% compared to September 2021), prices for cucumbers (+48.0%), cauliflower (+29.2%), and cabbage vegetables (+24.5%) in particular increased. The price increase for table potatoes in September 2022 compared to the same month of the previous year was +73.0%.

Prices for animal products increased by 49.1%, for milk by 57.5

Animal product prices in September 2022 were 49.1% higher than in September 2021, while milk prices in September 2022 were 57.5% higher than in the same month a year earlier, up from +55.9% year-on-year in August 2022. Thus, the year-on-year price increase for milk has continued steadily since March 2021. In July 2022, the year-on-year price increase had exceeded 50% for the first time.

Prices for livestock rose by 43.0% in September 2022 compared with September 2021, compared with a year-on-year price increase of 35.5% in August 2022. In this context, prices for slaughter pigs increased by 63.1% in September 2022. This increase was mainly due to the low supply of pigs ready for slaughter, while demand remained stable. The price increase for cattle was 21.1% compared to the same month last year. Poultry prices were 35.5% higher in September2022 than in September2021. This was mainly due to higher prices for chicken (+37.8%).

Methodological Notes:

The index of producer prices of agricultural products measures the development of agricultural sales prices (excluding sales tax) in Germany and thus shows price developments at the first economic stage. The survey date is the 15th of each reporting month.

Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.

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