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All commodity prices in nominal terms will average higher to 2020 than in the previous decade. In real terms, cereal prices are anticipated to average up to 20% higher for maize and 15% higher for rice, compared to the previous decade, while for wheat, prices may remain at the same level.
For meats, real poultry prices may average more than 30% higher in the next decade, while pigmeat prices in Pacific markets may be some 20% higher, and Pacific market beef prices may remain at the same high level. Prices of meat are adjusting as higher costs of feedstuffs are factored into prices.
Reflecting the fact that prices have moved sharply higher recently, prices of wheat, rice, oilseed meal and sugar will average lower compared to the past three year average, while prices of some meats,
dairy products and maize will show a rise above this benchmark period.
SMP: Skim milk powder
WMP: Whole milk powder
SMP: Skim milk powder
WMP: Whole milk powder
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