German Food Sales Increase 1.5% In February, BVE Says

By Dayeeta Das
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German Food Sales Increase 1.5% In February, BVE Says

The German food industry saw a 1.5% price-adjusted increase in sales in February 2024, compared to the same period last year, according to the Federation of German Food and Drink Industries (BVE).

Domestic sales increased 3.4% year on year during the month, while foreign business fell by 1.9%, data showed.

In nominal terms, food manufacturers in Germany reported a turnover of €18.6 billion, which reflects a slight increase of 0.4% year on year.

In the domestic market, turnover amounted to €12.0 billion, up 2.2% compared to February 2023. 

Sales in foreign markets declined by 2.7% to €6.6 billion, the BVE added. Export prices fell by 0.8%, while domestic producer prices fell by 1.2% in this period.


Commodity Prices

In February, producer prices for agricultural products rose by 1.2% compared to the previous month, while it fell by 5.7% year-on-year.

The prices of plant-based products rose by 1.2% on a month-on-month basis but declined by 1.5% compared to last year.

Grain prices saw a sharp decline of 33.6% year on year, while fruit prices saw a 27.2% increase and table potatoes were up 36%.

The price of eggs and milk increased by 11.6% and 15.3%, respectively.


Consumer Climate

In April, the GfK consumer climate index rose by 1.5 points to minus 24.2 points.

GfK consumer researchers expect a further increase of 3.1 points in their barometer to minus 24.2 points in May.

In March, general consumer prices rose by 0.4% on a month-on-month basis while food and non-alcoholic beverage prices fell by 0.2%.

Food prices rose by 0.6% and general consumer prices by 2.2% on a year-on-year basis.


Elsewhere, the latest Ifo Business Climate Index data for April showed a dampening of sentiment after previously favourable data, the BVE noted.

The balance of the business climate fell by 7.5 points and, at 96.0 points, is back below the neutral mark of 100.

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