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Retail

German Food Sales Declined By 1.3% In August, BVE Notes

By Dayeeta Das
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German Food Sales Declined By 1.3% In August, BVE Notes

The food industry in Germany saw a 1.3% price-adjusted decline in sales in August, compared to the same period last year, according to the Federation of German Food and Drink Industries (BVE).

Domestic sales fell by 0.2%, year on year, in August, while the decline in foreign business was 3.0%, data showed.

German food manufacturers generated sales worth €19.8 billion in this period, in nominal terms, registering growth of 3.5%, compared to the previous period.

The increase in nominal sales is primarily due to increased prices, the BVE noted.

In the domestic market, sales amounted to €13.0 billion, increasing by 6.4%, year on year, on a nominal basis.

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In foreign markets, the sector generated sales worth €6.9 billion, representing a decline of 1.6%, compared to the previous year, on a nominal basis.

Export prices increased by 1.5%, while domestic producer prices rose by 6.6%, year on year, data showed. The calendar and seasonally adjusted production index rose by 0.7%.

Commodity Prices

In August, producer prices for agricultural products fell by 0.1%, compared to the previous month, and by 5.6%, compared to the same month last year.

The prices of plant-based products rose by 2.5%, compared to the previous month, while they went down by 1.4%, year on year.

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The price of table potatoes saw growth of 23.6%, compared to July 2023, and 119.5%, compared to the previous year.

Animal products, on the other hand, recorded a decline of 1.8% in August, compared to the previous month, and went down by 8.2%, compared to the same month last year.

Pork prices fell by 5.5%, month on month, while egg prices rose by 2.8%.

Elsewhere, consumer sentiment in Germany fell noticeably in November, for the first time in 12 months, following some stabilisation in the economy, according to the latest German Trade Association (HDE) consumption barometer.

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