Egg products prices are still at very high level. The reason for the price increases has been the increased demand for eggs in Europe, both on the consumer and industrial side. Global supply and demand are not in balance, the stock levels of yolk powders are very low. Demand has increased on free range and barn grades in terms of sustainability. Producers in Europe have not invested in additional production when the price level has been low. As a result of environmental requirements, egg production is projected to decrease by about 15% in Belgium, Germany and the Netherlands. The effects of avian influenza have contributed to the poor availability, especially in Eastern Europe. The egg shortage in the United States has increased exports from the EU to the United States. There is also more demand for European eggs in the Far East and South America.

The price level of whole milk powder has been declining. The prices of whey protein concentrates and isolates have remained at a high level due to lower availability and increased demand.

Soybean pricing in USA has been stable. European soybean prices have increased slightly due to the decrease in the yield caused by the drought.

Meat protein prices have been stable or declining as the raw material for meat proteins has been readily available.

The corn harvest was good. The delay in harvesting in Ukraine reduced corn exports, which kept the demand and prices of non-GMO corn higher compared to wheat. How ever there is good availability for corn globally. The harvest of waxy corn was also better than previous year.

In Europe, the wheat harvest was good despite the varying weather conditions. This contributed to variations in the quality of the grain. Global production has increased which has also caused downward price pressure.

Weather conditions, the USD exchange rate and geopolitical risks increase the volatility of the grain market.

The cultivated area of tapioca root increased in 2025 and the yield was better than in the previous year. Exports of tapioca starch from Thailand fell from the previous year, which has lowered the price level slightly. Sea freight also decreased during the autumn. However, there is still price volatility in logistics costs, and sea freight has again been on the rise.

The cultivated area in potato has increased in the Europe. The harvest was good and the price level has fallen.

The availability of Chinese food additives has been better and prices have been stable partly due to favorable sea freight development and exchange rate fluctuations. The price level of salt has risen slightly because of increased production and freight cost.

The prices of stabilizers such as carrageenans and xanthan gum are declining due to better availability and a decrease in sea freight.

The cultivation area of sugar in Europe has decreased by 9%. This has been balanced by a better sugar yield than in the previous year, and therefore the decline in production has been smaller. Sugar demand in Europe has also been on a downward trend. Global sugar production is forecast to be in surplus in the coming year.

Demand for cocoa declined due to the high price level and production volumes decreased towards the end of the year. The market quickly shifted from scarcity pricing to demand and surplus-driven pricing. Forecasts indicate improved harvests in major producing countries, which are expected to support a short-term decline in price levels.

The price of rapeseed oil and sunflower oil is forecast to be stable in the first half of the year. The price of palm oil has been on the rise slightly.

In India, an early winter crop of onions has just been harvested. Sowing went well, but due to the heavy rains, the winter harvest has almost been lost and its processing has been delayed. The late winter harvest has also suffered from weather conditions, which has led to lower availability and higher prices. However, the summer harvest is forecast to be normal, as some of the destroyed areas have been replanted. However, the loss of winter harvests will have an increasing impact on the future price level. In China, the cultivation area increased significantly and prices fell with the new harvest. The demand for Chinese onions has increased, which may increase the price level later. The planting of Chinese garlic was delayed at the beginning of the harvest season, but the increase in the cultivated area compensated for the need for price increases. The price level has been stable.

Global production of pepper has declined, especially in Vietnam and Indonesia. Farmers have switched to better-priced commodities such as coffee and durian. The future harvest is forecast to decrease by about 10%. Exports have increased especially to China and the USA. In Brazil, the cultivated area is increasing. However, poor weather conditions have reduced the yield. In India, pepper production has decreased by about 20% due to weather conditions. In China, pepper production has dropped by more than 30%. Due to the above factors, global pepper stocks are declining as demand increases. Fluctuations in customs tariffs have also affected the export of peppers from producing countries. The price level is expected to rise from the new harvest.

In general, the prices of other natural spices have been stable. In some chili varieties, prices have been on the rise. There has been an increase in herbs, especially for Oregano. Oregano’s emergency stocks were very low at the beginning of the harvest season. The yield was significantly lower due to the early flowering. There has been a concern about Pyrollizidine alkaloids (PAs) in oregano as farmers have reduced weeding due to high labor costs. There is less EU-compliant raw material available in terms of pyrollizidine alkaloids and nickel which has created shortage of oregano. The price of oregano has risen significantly.

On the raw material side, the biggest increases have occurred in egg products. The main reason for the price increases has been the growing demand for eggs in Europe, both on the consumer and industrial side. Global supply and demand are not in balance; for example, stock levels of yolk powders are very low. Producers in Europe have not invested in additional production during periods of low price levels.

Due to environmental requirements, egg production is projected to decrease by about 15% in Belgium, Germany, and the Netherlands. The effects of avian influenza have further contributed to poor availability, especially in Eastern Europe. The egg shortage in the United States has increased exports from the EU to the U.S., and demand for European eggs has also risen in the Far East and South America.

The price level of whole milk powder has risen slightly. Demand has been lower due to the holiday season, and production has been reduced accordingly. However, the price level has firmed slightly as demand remains uncertain. Prices of whey protein concentrates and isolates have stayed high due to limited availability.

The soybean harvest season is underway in the U.S., while sowing has just been completed in South America. In Brazil, the cultivated area has been expanded, and global soybean production is projected to increase. Still, there are concerns about potential tariffs, trade policy decisions, and their impacts between different countries.

The price level of meat proteins has remained unchanged.

Corn futures prices rose in the spring but have since been on a downward trend. Harvests in the U.S. and Brazil are projected to be better than average. Expectations in Ukraine are also positive, although drought may reduce yields. In Europe, the harvest is expected to be similar to last year, but hot and dry conditions in Eastern Europe may have a slight impact on maize yields.

Wheat futures prices in Europe have been on a downward trend. Demand has declined, especially in China and North African countries. A good harvest is forecast for France and Eastern Europe. In Ukraine, harvesting has been delayed, and weather conditions have lowered expectations. Globally, wheat production is expected to increase, although global stocks have declined.

The price of tapioca has been declining, partly due to exchange rates and sea freight. However, delivery times have lengthened significantly because of increased demand.

The new crop will be harvested in the autumn. In Europe, the cultivated area has increased, and prices have been declining. However, drought may reduce yields and affect potato quality.

Prices of food additives have been declining due to exchange rate changes and lower sea freight costs.

Prices of thickeners such as carrageenan and xanthan gum have been declining, also due to exchange rates and lower sea freight costs.

The world market price of sugar has been falling, supported by safety stocks and the upcoming Brazilian harvest. Prices have also been influenced by customs tariffs between the U.S. and Brazil.

A new harvest is underway in Europe. In Finland, weather conditions have been good, and the cultivated area has increased. In Germany and Poland, rainfall has supported yields, while France and Southern Europe have suffered from drought, reducing forecasts. Across Europe, the cultivated area has dropped by about 9%, which is expected to increase prices from the new crop.

Cocoa prices remain high due to reduced availability from the previous harvest and long lead times. Drought in West Africa has raised concerns, with more clarity expected towards the end of August. Current forecasts suggest a downward price trend by year-end, as production is projected to increase in other producer countries.

Rapeseed oil prices fluctuated in the spring, but the EU is now expecting a good harvest. In Ukraine, weather concerns persist, and much of the rapeseed is still unharvested. Prices will depend on developments in the main producer countries.

Global coconut oil prices have risen due to reduced availability in the Philippines, caused by weather conditions. Increased use of coconut oil for biodiesel has also supported prices. Palm oil has strengthened slightly as it is used as a substitute for coconut oil.

Prices of dried onions have mostly remained unchanged. In India, the spring harvest was generally good, though reduced by monsoon rains. In China, the cultivated area has increased and harvesting is underway. In the U.S., the harvest outlook is normal. Garlic prices in China rose in the spring due to cold weather but are stabilizing as new crops enter the market. Indian garlic powder prices are unchanged, with production starting only in June.

Pepper prices have fallen slightly from their peak, partly due to exchange rates and freight costs. Overall, pepper production is expected to decline as cultivated areas shrink, especially in India. In Brazil, acreage has increased, but conditions have been less favorable. In Vietnam, cultivation is also projected to decrease as farmers switch to more profitable crops. Safety stocks have fallen while global demand has risen.

Among natural spices, prices of cumin and turmeric are declining. Mustard powder prices have also fallen. A new herb harvest is expected in the autumn. In Turkey, high inflation and limited EU-compliant material are expected to push oregano prices higher.

Corn prices have been falling in the autumn. Demand in Europe was also lower. At the beginning of the year, the price of corn has gone up after the USDA WASDE report. The report significantly reduced the estimate of ending stocks for 2024/2025. These changes reflect the tightening of the global corn supply-demand balance, which puts upward pressure on the grain markets. There are also concerns about drought in Argentina and heavy rains in Brazil, which may affect global availability. In France, the area under corn cultivation is expected to decrease due to rising production costs such as fertilizers. Last year’s poor harvest has led farmers to consider other crops. Ukraine’s corn stocks are also smaller than before. In Ukraine, dry weather conditions and warmer-than-normal weather are causing concern for the winter crop.

The global wheat price was on the rise towards end of the year. This has been partly due to the situation in the Middle East and increased demand in China. In Argentina and Australia, wheat production is lower than before due to poor weather conditions. As a result, China has also bought wheat from Europe, as the yield in China has been smaller due to rains. Russia’s export quota and lower production in major growing
areas are expected to raise prices in the second half of the year. Tariffs caused by the U.S. trade war are expected to cause price fluctuations in the grain markets. Demand for wheat in Europe has been lower. In Ukraine, dry weather conditions as well as warmer than normal weather cause concern about the winter crop. Warm weather conditions in Russia have also affected the winter crop due to the low snow cover.

The prices of processed potato products have risen in Europe due to increased demand and limited potato availability. Production costs and fertilizer costs have also increased. The price level of imported potato starch has risen slightly due to crop related factors, while the price level of domestic starch has remained unchanged.

The price of tapioca in Thailand has come down slightly due to lower demand and higher stock levels. However, sea freight and longer delivery times increase the cost of tapioca.

Heavy rains in Brazil have delayed the soybean harvest. However, a good harvest is forecasted in Brazil. The ongoing drought in Argentina has caused the crop forecast to decline. The previous crop in the U.S. was good, but trade policy decisions towards China and Canada, might affect the price level in the future. In addition, the price level is affected by U.S. decisions on the use of soybeans for biofuel production. In China, soybean use is expected to increase for the needs of the feed industry. In Serbia, the soybean crop was poor, and the yield per hectare was significantly lower than normal.

The price of sugar has fallen in Europe as production has increased due to a larger area under cultivation due to more favourable price level. The world market price of sugar has also been on a downward trend. In Brazil, sugarcane production forecasts fell slightly due to dry weather conditions, although rains at the end of the year eased the situation. Production in Australia was slightly lower due to rains. In India, volumes were slightly lower than the previous year. Most of the sugar in India is used for ethanol production or to the domestic market consumption. The state regulates the amount of sugar exports in India. Sugar production in Thailand is expected to increase. Global sugar consumption is on the rise, while production is on a downward trend.

Milk powder prices were on the rise in the autumn due to rising demand. The price increase is particularly visible in Europe for whole milk powder. Price fluctuations occur as a result of changes in demand. Whey and milk protein prices have been high due to limited availability and increased demand, e.g., for sports nutrition.

The demand for eggs strengthened strongly at the end of the year in wholesale and industry use. This strong increase in demand caused a shortage of availability due to the imbalance between production and demand. The effects of avian influenza in the major producing countries in Europe have led to price increases. In the U.S. egg prices have been at record highs due to avian influenza and increased demand. Stocks have been the lowest in five years as demand rose sharply at the end of the year. The price increases of feed raw materials such as wheat and corn also affect the prices of animal proteins.

Meat protein prices have been stable due to the decline in pork prices in Europe.

The prices of thickeners such as carrageenan and xanthan gum have been on a downward trend.

The price of vegetable oil has been on an upward trend due to lower production and low stock levels. The price of oils is also affected by the possible tariff effects of the trade war, which may direct the use of rapeseed to other oilseeds.

The prices of ascorbic acid derivatives have risen partly due to speculation in the countries of origin and sea freight costs. The prices of food phosphates have also fallen slightly.

The price level of dried onions has generally remained unchanged, although the price of fresh onions has risen. Production costs such as energy, labor, packaging, and transportation costs in the countries of origin have increased.

The price level of garlic in India and China remains high due to increased demand. The aforementioned production and transportation costs have also risen for garlic. In China, speculation significantly affects the price level of garlic and causes price fluctuations.

Pepper prices remain high. In Vietnam, the harvest has been delayed, and the new harvest will be collected in February/March. The harvest is smaller than before due to poor weather conditions and reduced cultivation area. Due to lower price level, farmers switched to other agricultural commodities crops such as coffee. In India, demand has increased, also the harvest is 30% smaller than the previous harvest. In Brazil, the price level also remains high due to lower stock levels, on the other hand the new harvest is expected to be better.

Overall, global production has decreased, and stock levels have declined compared to increased demand. Delivery times from the countries of origin have lengthened, and sea freight prices are high. The price of allspice remains high due to the previous poor harvest, the new harvest will not be available until autumn.

The prices of paprika flakes have risen in China due to a smaller harvest than the previous year. The lower price level in previous years has led to a decrease in cultivation. Prices are also driven up by the reduced availability of raw materials that comply with EU pesticide legislation.

The price of ginger has risen due to a poor harvest in Nigeria, and prices have also risen in other producing countries. The price of cardamom has risen due to a poor harvest caused by drought. The price level of cumin has decreased. The prices of herbs have generally remained unchanged, with a few exceptions.

The world market price of cocoa remains very high due to limited availability. Weather conditions in the major production areas in Africa have been more dry than usual.

The prices of orange-based products have risen sharply due to the availability of raw materials. The persistent threat of greening disease in orange trees has damaged orange trees in major producing countries such as Mexico, Brazil, and the USA. Greening disease is caused by bacteria, and the fruits fall from the trees unripe and bitter. Additionally, the disease destroys orange trees.

Rains in Spain affected the yield of tomato and water shortages and hot weather have troubled production areas. The price of tomato powder has slightly decreased but remains still relatively high.

The price level of coconut milk powder has risen due to a shortage of coconuts caused by the El Niño weather phenomenon, heavy rains, drought, and heat in the producing countries.

Regular European corn prices have softned due to better availability and favourable planting weather in South-America and good production estimate in US has soften corn futures also in Europe. In Europe Specialty corn, like waxy maize premiums have increased in order to secure future acreage in competition of alternative crops.

Wheat future prices decreased in December due to less demand. Plantings for the winter crop will delay in Europe. The black sea corridor deal was not extended after it expired. Ukraine is still continuing exports via smaller ports with access to Romania and Poland. China might buy wheat in future from Europe due to its domestic supply issues.

Potato crop was suffering from heavy rains especially in Finland, part of the crop could not been harvested due to wet fields. In Europe also wet weather reduced potato crops. Acreage for potato has been decreased in Europe.

Thailand tapioca crop output declined in 2023. Low inventory levels keeps cost high. There are concerns of the draught caused by El Nino weather phenomenon in Thailand prices are forecasted to be in high level. Seafreight is also increasing.

Rice based products have been increased due to dry weather in Thailand and Vietnam. India annouced a ban and export destrictions for some rice qualities.

Global soyabean production is forecasted to increase. Weather conditions in Brazil remains the major driver in the soybean market for crop outlook for coming season. Favourable plantings in Argentina and a good US crop have improved global supply. Chinese soy production is also forecasted to increase.

Dairy protein prices were on the rise at the end of the year. Variations in demand affects the price level. Prices of whey-based proteins have been on the rise due to increased demand from outside Europe.

At the end of the year, prices of egg products were on the rise in Europe, although they have come down from the highest price level. Reasons for the rise have included supply restrictions caused by avian influenza and increased feed costs. The demand for eggs as a cheap source of protein has also increased.

Meat protein prices have decreased due to better supply and lower demand of meat.

Global sugar production is projected to decline due to the strengthening El-Nino weather phenomenon in producing countries, as well as due to the global sugar deficit in the following years. In Europe and Brazil, the late start of the harvest season raised the price level. For example cultivated area has been reduced in France. In the Nordic countries, the yield was about 15% lower. Rains were a nuisance at harvest time. The price level for sugar remains high.

The prices of phosphate raw materials have been declining due to lower energy and production costs. Sea freight can have an upward effect on the price level.

The price of seaweed as raw material for carrageenan has been declining and availability is better.

The general demand of all products declined in the last few months in China. The lower demand has influenced a decrease in prices. How ever freight from Asian routes has increased significantly in last weeks due to attacks at red sea and this will increase costs for food additives from China.

Previous white Onion crop in India was lower due to reduced acreage and unfavourable weather condition. Farmers switched to red onion due to better pricing. Prices were firming towards end of last year. New crop in India will be in March. Currently costs are increasing due to higher seafreight prices.

Garlic prices have increased in China because of weather conditions end last year. There has been more demand for fresh garlic and based on these reasons also speculation has increased. Higher seafreight is increasing the cost.

Pepper prices have fallen slightly as global production and demand have been in balance. However, security stocks are currently declining. Farmers have also switched to other crops. One the major importing countries, China has purchased about 40% of Vietnam’s production.

The cost of producing peppers has risen and interest rates are high. In general, the production volumes of peppers are falling and demand is increasing. Higher price level is anticipated in the future. Transport costs are increasing due to higher seafreight costs.

The price level of paprika powder has been stable. The price level for red bell pepper flakes has been on a downward trend however due to its origin freight costs are increasing.

The price level of tomato powder has remained at the current high level. Current stocks are low and demand is rising. Farming costs have also risen due to the high level of interest rates, in addition to Co2 issues raise costs. The price of energy has a significant impact on the cost of growing tomatoes and there is a scarcity of water resources.

Cumin seed ground pricing has increased due to very bad crop in India also there has been less EU-compliance material available. Chili prices have slightly increased mainly related to production and transport cost increases.

In general prices of herbs have increased related to crops. Production costs have risen and inflation is high in the producing countries The prices of basil and marjoram are on the rise due to smaller crop. Demand is higher and stocks from the previous year are low. In Oregano, safety stocks have been good but pyrrolizidine alkaloids have caused problems with the availability of good quality oregano. Farmers have reduced acreage due to the current increase in costs and the price level of oregano. Dill, parsley and chive have also increased due to increased production cost and also transport costs are higher for these bulky items.

Availability is now better compared to 2022, partly due to decreasing demand. However, specialty corn like waxy corn remains scarce and more expensive in Europe. Near term weather conditions will be critical.  United States and Brazil forecast is good crop, but estimate might be lower as USA is suffering from drought. Chinas production growth will be moderate, price remain high, due to drought. In Argentina production is low due to drought. In Europe after poor crop 2022 production will be higher for 2023, but very much is depending on yield. Surface of corn is also decreasing in Europe. Farmers are changing from corn/waxy corn to other commodities because of less risks. Ukraine’s export is slow and explosion of Khakovka dam will make situation worser.

Wheat prices had downwards pressure in spring because of wheat planting, low demand, and extension of Black Sea grain corridor deal for another 60 days. In July Russia did not continued Black Sea grain corridor. China will have higher demand in 2024 due to reopening markets and poor weather conditions in main growing areas. Export from Ukraine is slow due to blocking of supply in Black Sea ports. Global wheat production is estimated to be high even though latest figures have decreased. Key driving force for wheat markets in near term will be US crop plantings and weather conditions. In Europe some countries like Spain are suffering from drought. In Northern-Europe latest rainfalls have deteriorated quality of wheat.

Potato crop 2022 was not so good in Europe and supply remain still tight. Many farmers decided to go for other crops. 2023 crop is estimated to be lower in 2023 and industry have to pay more for farmers in order to keep them in potato farming. Weather conditions will affect in coming months for potato crops.

Weather conditions, rains in May improved growing conditions after long drought period. Tight availability of roots continued. Starch content in roots has been lower. Demand has been less but also less production. Production cost has been very high and prices have been increasing month after month.

Global soya bean production is forecast to be approximately 10 % higher. This is mainly due to good crop in Brazil, higher US crop previous year and recovery of Argentina’s soya bean production. China who is main soybean importer is to watch concerning prices because of their good crop of corn and wheat which may limit soya meal use. Currently US plantings are going on and we know more of price development of soyabean end of the year. Weather conditions during next months are important to follow. New crop is Serbia will be end of Autumn.

Dairy protein prices are decreasing in Europe due to high stocks and weak demand.

Prices for egg powders have been historically high in first half of the year, this has been mainly due to the avian Influenza which led to very low availability of eggs. Now situation is improving and increased egg supply in Europe and in US. Demand is also lower during summer months. European egg production is forecasted to increase during 2023 but estimation is lower than originally forecasted. Lower pricelevel we estimate only end of the year or 2024.

Meat protein prices have increasing trend in Europe, this has been mainly due to increasing prices of pork due to tight supply.

Driven by poor profitability during 2022, a significant number of pig farmers across Europe have chosen to stop their pig breeding activities – some on a temporary basis, while many others decided to permanently exit the business. This caused a drastic decline in the European pig herd, naturally leading to a lower availability of pigs.  Main raw material related to the functional proteins is rind/pork skin.

The gelatin industry, representing 60 % of the rind purchase across Europe, is fighting for same raw materials.

Global sugar production is estimated to fall globally with increasing likelihood of El Nino weather phenomenon in main producing countries and global sugar deficit in 2024/25. The late start crops in Europe and in Brazil have risen the prices but now the situation is stabilized.  Sugar spot market has been relatively high in Europe. Weather conditions are important to follow for the new crop.

Prices for phosphate raw materials have been decreasing due to better supply situation, lower energy prices and lower freight cost.

Carrageenan raw material prices from seaweed is still high level but other cost have been decreased therefore we see slightly lower price level.

Chinese food additives have been decreased mainly due to lower freight cost and decreased demand, all restrictions are lifted, and productions are running normally. During the summer many producers have their maintenance stops because of the very high temperatures in China. This may cause a situation of shortage again for some of the products and price situation may change rapidly.

US onion prices went up 22 due to inflation and drought. New crop outlook looks more promising.  In India onion export stays high level. This year crop was 20 % smaller as farmers switched from white onion to red onion. Prices may be firmer towards end of the year.  Sea freight has decreased. In China new crop will be in September and prices are expected to be firm.

Chinese garlic prices have firmed due to cold weather in April-May. Price driver is garlic future price markets. Speculation on expected yield and increased demand for fresh and dehydrated garlic, new crop will be in autumn after dehydration. Indian Garlic processing follows onion season. There will be limited dehydration due to fresh garlic prices. Prices may firm towards end of the year.

Pepper prices have been downward trend. Global production is in line with demand this year.  How ever carryover stocks are reducing. Farmers are switching to other crops. China is main importer of pepper, for example it imported 40 % of Vietnamese production during this spring. There is increased cost of production globally and high interest rate. There is overall declining in production and demand is growing annually, we may see higher prices in the future.

Main sowing time is from April-May in main producing countries (China, Peru, Zambia, Spain) weather conditions are important during planting period. There was snowfall in China during the planting period. Spain has suffered from drought; product availability will be lower. We may expect higher prices end of the year from the new crop, also production cost is much higher.

Prices from the previous crop was very high. Current stocks are very low. Demand is increasing in food industry and food service. Input cost of farmers remains very high. Financing of tomato growing is expensive due to high interest rates. Co2 emissions increase the cost. Development of energy prices are important to follow due to drought also water resources are scarce.

We may see higher prices from the new crop of some herbs, like basil and marjoram. Demand is higher, very low carry over from last year and supply is lower, also production costs are higher and inflation rate very high in producing countries. In oregano there is good carryover, but also PA problems and farmers are reluctant to plant new field due to current price level and increased cost.