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Shining Light on Farm & Food Policy for 20 Years.
Thursday, March 28, 2024
A European policymaker and senior congressman debated ag policy during USDA's Ag Outlook Forum, and a top ag economist opined that farmers are in position to handle the downturn in commodity prices, for this year at least.
The UN Food and Agriculture Organization’s index of global food commodity prices eased again in January, led by lower prices for grains and meat, and is down 10.4% from a year ago.
Grocery prices rose just 0.1% in December for the second month in a row and are up 1.3% year over year as food inflation continues to moderate, according to the latest Consumer Price Index.
Prices for globally traded food commodities fell in August on declines in the cost of dairy products, vegetable oils and other products, reversing an increase the month before.
Supermarket prices ticked up 0.3% last month, driven by a jump in the cost of beef as well as increases for some fruits, vegetables and dairy products, according to the monthly Consumer Price Index.
In a period when inflation has raised the cost of everything from fertilizers to shipping, groups representing agricultural producers and processors are calling for increased funding for two proven and longstanding export programs.
Supermarket prices rose 0.4% in October, their smallest increase since December 2021, as shoppers actually saw price declines in the meat and dairy cases and other areas of the store.
The Food and Drug Administration is proposing some major rule changes for foods that can be marketed as “healthy," potentially allowing new products to qualify while eliminating others. But few foods are labeled as "healthy" are current rules, and experts say it's not clear how much consumers will care about the proposed new labeling system either.