Raw Material Update June 2008

As can be seen from the table above raw material prices continue to be unstable, with cereals showing a marked decline – on the back of optimistic harvest predictions, and the fact that there is still a significant amount of old crop to be moved before this years harvest.
Global oil and energy prices along with high demand for food leading to the continued hardening of protein prices: However the view looking forward to autumn is somewhat easier with almost all materials with the exception of urea showing weakness. The coming northern hemisphere harvest is awaited with great interest.

The recent UN summit on the world food situation has done little to solve the current problems and shortages, but it has highlighted to governments worldwide the need to increase production, calling into question the ethics and efficiency of Bio fuel production, along with a changing view (not globally accepted yet) that GM crops must play a part in helping to avoid what could become a massive humanitarian disaster.
This must be good news for farmers, especially those in temperate areas with relatively stable climates.

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