Food industry has to make do with lower prices – News Entrepreneurship

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Today 11:17 am – Linda van Eekeres

The selling prices of the Dutch food industry were 1.3% lower in February than in February 2023, according to new figures from Statistics Netherlands. Compared to January of this year, there was a small increase of 0.3%.

In February 2023, selling prices in the food industry increased by 18.6%. Prices will also stagnate in the other months of 2023, but decreasing. In January of this year, for the first time, a decrease was seen compared to a year earlier, of 1.7%.

Entire industry
For the industry as a whole, selling prices fell by an average of 1.8% in February compared to the same month a year earlier. In January, selling prices fell by an average of 3% on an annual basis. Compared to January, selling prices rose by an average of 0.6% for the entire industry in February.

The selling prices are closely related to the price development of oil, according to CBS. A barrel of Brent crude oil cost more than 3% less in February than a year earlier. In January this was more than 7% less on an annual basis.

Products from the petroleum industry were 2.7 percent cheaper in February than in February 2023. In January prices were 10.5 percent lower than a year earlier. In the chemical industry too, the selling price is generally related to the oil price. The chemical industry’s selling prices were 8.6 percent lower in February than a year earlier. In January prices were 11.0 percent lower than in January 2023.

Food companies slightly less negative
CBS also released figures this week about producer confidence in March. The average confidence of all producers decreased slightly from -4 in February to -4.8 in March. In the food industry, producers became slightly less negative, from -6.5 in February to -4.2 in March.

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