Grain prices explode, and we are going to feel it too
Ukraine is the largest grain products in Europe. The price of grain today has never been this high since time immemorial. And we will all feel that in our shopping basket. After all, grain is also the main component of animal feed.
Hendrik Vandamme, Algemeen Boeren Syndicate: “The prices have really exploded in the last week. They are heading towards 330 euros per tonne today, 350 on the futures market and we are approaching 400 euros per tonne. That’s really unseen. That is even above the prices of 2008. I have been a farmer myself for 32 years and I have never seen prices like today.”
Price increases also felt on the store shelves
For grain producers, the high prices may be a good thing. The flip side is that the livestock farmers need grains in their feeds, and they see feed prices rising sharply. “Ultimately, this has an impact on the production costs for a liter of milk, a kilogram of pork or chicken meat. They are becoming more expensive because feed prices are rising sharply.”
We can therefore expect a series of price increases on store shelves in the short term. And the longer the war goes on, the harder it becomes to keep the price rises under control.