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Supermarket prices before explosion? “Historical development” could have serious consequences for consumers

2021-05-19T08:15:58.958Z

Experts and the World Food Organization FAO determine historical prices of grain and vegetable oils. These could soon have an impact on prices in the supermarket.



Experts and the World Food Organization FAO determine historical prices of grain and vegetable oils.

These could soon have an impact on prices in the supermarket.

Hamburg - In the future, there could be increased supermarket prices for grain and vegetable oil products.

Grain experts are currently seeing price fluctuations for grain and vegetable oils such as wheat, millet and rapeseed.

This can also affect consumers.

"If the prices for vegetable oils and grains stay that way for a while, then this will certainly be reflected in the food prices in the supermarket within a few months", explained the chairman of the association of grain traders of the Hamburg stock exchange, Thorsten Tiedemann, to the dpa.

Due to the corona crisis, many groceries in the supermarket have already risen in price.

Grain price spikes: high for seven years

There are numerous reasons for these historical price fluctuations.

On the one hand, some bottlenecks have arisen due to corona restrictions in the economy, according to Tiedemann.

On the other hand, the cultivation amount was lower due to bad weather and faulty harvests.

On the other hand, demand even increased after the Corona recession.

The World Food Organization (FAO) has also noted the trend towards rising prices.

This affects almost all agricultural commodities.

The FAO price index for food shows a price increase of 31 percent compared to the previous year.

Currently, the highest level has been reached in seven years.

The price of oilseeds in particular appears to be skyrocketing.

Compared to April 2020, the price level has doubled.

From the perspective of the FAO, the demand from manufacturers of biofuels also contributes to the price fluctuations.

Rising Grain Prices: Impact on Consumers

The consequences for consumers can be seen in more expensive meat production, for example. This is due to the higher prices for animal feed. Tiedemann suspects that there will also be higher prices for consumers for products such as flour and vegetable oil. Baked goods, on the other hand, are less influenced by the agricultural commodity prices, as these only make up a small part of the total price.

Germany's decreasing self-sufficiency in agricultural raw materials is also problematic.

In the grain marketing year


, Germany had a net export of around two million tons.

"That is not even five percent of the total grain production that we have left over here." In previous years, "seven to ten million tonnes net" were exported, according to Tiedemann.

There are also price explosions on the timber market.

(dpa / jsch)

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Source: merkur

All life articles on 2021-05-19

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