Falling food prices a boon to organic markets

Falling food prices a boon to organic markets

Organic meat, dairy, poultry and eggs are discretionary purchases for many consumers. Entrenched high prices have created headwinds for growth in these segments, even as other parts of the economy cool. The pandemic created volatility in food markets that was followed by a spike in inflation.

Both served to raise food prices, including organic foods, resulting in some demand loss. This has only served to limit growth potential, as the latest estimates from the Organic Trade Association (OTA) show continued moderate growth.

Animal protein segments like dairy, eggs, and meat showed healthy growth in 2023, according to the OTA. These have the most relevance to organic feed markets, generating considerable demand. Organic dairy and egg sales generated $8.2 billion last year, up by 5.5% from 2022. Granular data from the OTA indicate organic milk and cream sales were up by 5% in 2023 to $4.2 billion.

Membership is required to view the rest of this post.
Click here to learn more and sign up for a free 7-day trial!

Blog

07.19.2024

EU imposes provisional anti-dumping duties on Chinese biodiesel

EU imposes provisional anti-dumping duties on Chinese biodiesel

The European Biodiesel Board (EBB) announced on Friday July 19 that the EU has decided to impose “provisional anti-dumping duties in its trade case against Chinese biodiesel entering the...

07.19.2024

Lard market jumps ahead of weekend

Lard market jumps ahead of weekend

Lard traded higher on Friday July 19 on a Chicago basis, up to 55 cents per lb, and choice white grease traded on a Chicago basis as well, steady...

07.19.2024

IA/MO/NE porcine bloodmeal prices up; other animal protein products down

IA/MO/NE porcine bloodmeal prices up; other animal protein products down

US animal protein prices were mixed to lower in the week to Friday July 19.  Market sources continued to not price pressure from lower soybean meal values and diminished...

Latest Tweets