December 24, 2024 | 18:10 GMT +7

  • Click to copy
Thursday- 16:54, 16/11/2023

Food price inflation to ease next year - Rabobank

(VAN) The specialist food and agribusiness bank said food demand will nonetheless remain weak as consumers continue to deal with economic challenges, including high overall inflation and interest rates.

Consumers can expect some relief from food inflation next year, with the price of key staples such as sugar, coffee, corn and soybeans set to ease as supplies adjust higher in response to three years of soaring prices, Rabobank said in a report.

The specialist food and agribusiness bank said food demand will nonetheless remain weak as consumers continue to deal with economic challenges, including high overall inflation and interest rates.

And not all food staple prices will ease. Rabobank expects wheat, which the developing world is particularly dependent on, will record its fifth successive deficit thanks to adverse weather and potential restrictions on Russian exports.

"It won't be plain sailing but the more positive outlook for a majority of commodities should, in most countries, lead to a fall in the price of food on consumers' plates," said Carlos Mera, head of agri commodities at Rabobank.

He said winners and losers will emerge, and that those in the bakery, dairy and animal protein sectors will be the biggest beneficiaries of improved supplies from South America.

Rabobank expects the coffee market will record a 6.8 million bags surplus in 2024/25 thanks to improved output in Brazil and Colombia, while sugar will ease thanks to improved conditions in Thailand.

It also sees Brazil producing a record 163 million metric ton soybean crop.

In terms of wheat however, Rabobank warned that Argentina and Australia's output will likely underperform in the next few months, while the war in Ukraine will continue to lead to a shrinking exportable surplus next year.

Questions remain also over export restrictions for Russian wheat even as the country's crop is expected to stay above 87 million tons, the bank noted.

HD

(Reuters)

How to repair the planet? One answer might be hiding in plain sight

How to repair the planet? One answer might be hiding in plain sight

(VAN) We tend to look at environmental problems in isolation. A holistic approach would be more effective, a new report says.

Georgia farmers still grappling with $5.5 billion in Hurricane Helene storm losses

Georgia farmers still grappling with $5.5 billion in Hurricane Helene storm losses

(VAN) Twisted equipment and snapped tree limbs still litter Chris Hopkins’ Georgia farm more than two months after Hurricane Helene made its deadly march across the South.

US poultry sector prepares for mass deportations

US poultry sector prepares for mass deportations

(VAN) The US poultry processing industry has long relied on illegal workers, but huge adjustments are going to have to be made after President-elect Donald Trump takes power on 20 January 2025.

The future is dry: Why soil is the sexiest climate solution

The future is dry: Why soil is the sexiest climate solution

(VAN) Drought is projected to affect 75% of the world's population by 2050. Take that in.

Environmentalists call for a revision of poultry welfare standards

Environmentalists call for a revision of poultry welfare standards

(VAN) Voice of Animals, a Russian NGO, has prepared amendments to the draft veterinary regulation in the poultry industry, which is scheduled to come into force on 1 August 2025.

Hunger in the Arab region reaches a new height as challenges intensify

Hunger in the Arab region reaches a new height as challenges intensify

(VAN) From the FAO Regional Office for the Near East and North Africa.

A year of change for the UK poultry industry

A year of change for the UK poultry industry

(VAN) A year of change for both the UK’s broiler and egg sectors is highlighted in this year’s Andersons annual Outlook report.

Read more