See what’s on the horizon thanks to Atlante’s commodity market performance insights for UK buyers and beyond.
At Atlante, we recognise the importance of providing up-to-date performance data for each of the main commodity markets. That’s why we offer snapshots and explainers that help to keep buyers informed.
2022 has been a rather turbulent year, with both record-breaking sales in UK supermarkets and grocery price inflation at a record high. So where do the main food commodities stand, and where are they headed?
Domestic prices of rice have been trending upwards for months with record prices in almost all types. There is declining production in China, India, Pakistan and the USA, as well as in the EU. In the medium term, prices will continue to be supported by rigid demand, supply shortages, and policy uncertainty (e.g. Indian tariffs). In the short to medium term, prices will continue to be supported by the above factors.
The outlook for rice is that if there is no disruption on the yield side, and with grain prices we expect to fall slightly, a drop in price should be visible from Q3/Q4 2023.
For nuts the markets withstood the impact of the perfect storm, on some commodities, declines were also fuelled by exogenous factors, such as the delicate macroeconomic environment; in Turkey, the devaluation of the lira has weighed heavily on the prices of products exported from the country (hazelnuts, sultanas, pistachios) since early 2021.
As far as legumes are concerned the markets are waiting to feel the effects on prices of increased North American supply (Canada and the USA are important exporters of Lentils, Peas and Chickpeas). In the short term, elements of uncertainty remain, especially in relation to developments in the Australian and Indian campaigns. In the medium to long term, we can confirm a decline for lentils and a moderate decline for peas.
Watch this space for more updates on each of the main commodity markets- or get ahead by downloading our full commodities summary here.
Photo by Kai Dahms on Unsplash
