Posts Tagged “USDA Price Outlook”
Both retail and farm-level prices for fresh vegetables have been revised upward for 2019.
In the U.S. Department of Agriculture’s Food Price Outlook report of June 25, the agency reported that although fresh vegetable prices decreased 1% from April to May, prices are 5.2% higher than in May 2018. “The price indexes for all fresh vegetable components (potatoes, lettuce, tomatoes, and other fresh vegetables) continued to show strong year-over-year growth,” the USDA said in the report.
“Following a 1.1% increase in 2018, this month’s forecast for fresh vegetable prices has again been revised upward, with expectations for an increase in a range between 3% and 4% in 2019.”
The USDA said the index of farm-level vegetable prices increased by 3.6% in May and was up 9.6% since the same time last year. The farm-level vegetable producer price index declined 1.7% in 2018, but the USDA now calls for an increase of 11% to 12% in producer prices for vegetables this year.
The USDA said the index for producer prices for fruit decreased 3.7% in May and was 15.9% lower since a year ago. After a decrease of 1.9% in 2018, the USDA said fruit prices at the farm level in 2019 are expected to decrease between 4% and 5%.