AGRIndex – April Review

AGRIndex – April Review

AGRIndex – April Review

The FINANCIAL -- In April 2018, compared to the previous month, only MEAT (+1.8%) prices went up, while DAIRY (-8.0%), VEGETABLE (-6.8%), and FRUIT (-2.6%) prices lost significant parts of their March 2018 values. As a result, AGRIndex experienced the biggest decline in m/m terms (-1.4%) since last July.

The y/y AGRIndex also continued its latest trend and reached a 16 month low of +2.1% in April 2018.

Highest increase: In April 2018, compared to March 2018, pomegranate prices increased the most (+34%), but more interestingly, cabbage and broccoli prices continued to climb at almost the same pace as they did in the last month — broccoli prices increased by 31%, while cabbage prices increased by more than 18%. It seems that declining imports of cabbage, cauliflower, kohlrabi, kale and similar edible brassicas (462,000 USD in January-April 2018, compared to 301,000 USD in January-April 2017, GeoStat, MoF), and reduced national production of cabbage, floral cabbage, and broccoli by 19% in 2017, compared to 2016 (GeoStat), translated into a supply shortage and has pushed the prices for these vegetables up recently.

Highest drop: In April 2018, compared to the last month, domestically produced strawberry prices lost more than a fifth of their March values as the high season for this berry is about to begin.