21:02, 27.02.2009 — Новости
автор: OilWorld.Ru

DJ French Jan Agricultural Prices +4.2% On Mo, -11.6% On Yr (ENG)


PARIS (Dow Jones)--Agricultural prices in France rose 4.2% in January pulled
by strong domestic demand for cereals and buoyant exports to North Africa,
state statistics agency Insee said Friday.

  On the year, however, overall agricultural prices tumbled 11.6%, the data
show.

  France is one of Europe's largest agricultural producers and markets,
especially for cereals. And farmers would likely have been cheered last month
as cereals prices overall rose 11.5% from May.

  Insee said prices were also bolstered by the fact that Argentina, which is
another major cereals producer, is suffering a severe drought.

  Prices for French soft wheat last month rose 11.2% from the previous month,
while barley prices gained 12.9%

  And demand for French corn was buoyed by agricultural transportation
difficulties in Europe. Corn prices advanced 16.3% on the month.

  Still, prices of cereals across the board were depressed in January from
recent peaks. Overall cereal prices were down 45.5% on the year, with soft
wheat 44.3% lower, barley off 50.1% and corn down 40.1%.

  During 2007, global commodities and energy prices spiked and then crashed as
the global economy lurched back into recession. Grain prices last year had been
bolstered by surging production of biofuels that was encouraged by the
then-historically high oil prices.

  

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