Summary of Wholesale Commodity Prices in Milan as of August 27, 2024
Summary of Wholesale Commodity Prices in Milan as of August 27, 2024
In the ever-fluctuating world of commodities, staying updated with the latest price changes is crucial for industry stakeholders, from farmers to distributors and traders. On August 27, 2024, the latest wholesale prices for various commodities were released in Milan, offering a snapshot of the current market trends. Below, we provide an overview of the most significant changes and the prices of key agricultural products.
Key Highlights
The table below summarizes the price changes for a selection of commodities, including grains, oils, and flours. These prices are in euros per ton (€ /t) and reflect the market conditions as of August 27, 2024. The changes are compared to the prices recorded a week earlier, on August 20, 2024.
Analysis of the Market Trends
Grain Markets:
Soft Wheat: The standard quality soft wheat saw a decrease of €5 per ton, with prices now ranging from €259 to €267 per ton. In contrast, higher quality soft wheat maintained its price, reflecting steady demand in the market.
Corn/Maize: Both feed corn and bramata flour experienced a slight decline in prices, with a €5 reduction per ton. This suggests a potential easing in demand or an increase in supply in the region.
Oils:
Sunflower Oil: The prices for both crude and refined sunflower oil dropped by €10 per ton. This could be a result of improved sunflower crop yields or lower global demand.
Olive Oil: On the other hand, extra virgin olive oil, especially the organic variant, witnessed a price increase. The organic extra virgin olive oil saw a notable rise of €100 per ton, highlighting the continued strong demand for high-quality and organic products in the market.
Animal Feed:
Soybean Meal: Prices for foreign soybean meal increased by €10 per ton, indicating a tightening supply or growing demand in the animal feed sector.
Rice:
Arborio and Carnaroli Rice: The prices of these premium rice varieties remained unchanged, reflecting stability in the market. The consistent demand for these high-quality rice varieties may be sustaining their price levels.
Conclusion
The commodity markets in Milan have shown a mixed trend over the past week, with some categories experiencing slight price drops while others, particularly in the premium segments like olive oil, have seen increases. These fluctuations highlight the importance of staying informed and responsive to market trends, especially for businesses and stakeholders involved in these sectors.
As the market continues to evolve, keeping a close eye on these price changes will be essential for making informed decisions. Whether you're a producer, distributor, or trader, understanding these trends will help you navigate the complex world of commodities with greater confidence.
Stay tuned for further updates and detailed analyses of market movements in the coming weeks.
