April 1, 2009
French Feb farm prices down 0.7 percent on-month, 10.8 percent on-year; cereals fall
Agricultural prices in France eased 0.7 percent in February on the month and were down 10.8 percent on the year, pulled by sharply lower prices for cereals, data from the state statistics agency INSEE published Tuesday (March 31) show.
Stalled at substantially lower levels for yet another month, overall cereals prices were down 0.7 percent on the month, but off 45.8 percent on the year.
However, the February grain prices were up markedly from December, after having risen in January.
Since peaking in early-to-mid 2008, farm prices have tumbled on lower demand and buoyant supply. France is one of Europe's biggest agricultural producers.
Cereals prices have been especially weak, with the important soft wheat cash crop recording a 1.8 percent monthly decline for February and a 47.4 percent annual drop.
Barley prices showed a similar trend in February, falling 2.7 percent on the month and 48.3 percent on the year.
However, corn prices rose 1.5 percent in February from January and were 34 percent down on the year.
