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No Likely Price Pressure Despite Promising Harvests

This year's grain harvest looks like it will be much better than last year's disaster year. But if it affects consumer prices depends on more than the Swedish weather.

» Updated: 19 September 2024, 17:56

» Published: 31 July 2024

No Likely Price Pressure Despite Promising Harvests
Photo: Vidar Ruud/NTB/TT

According to the Farmers' prognosis, this year's Swedish harvest will total 5.4 million tons of grain. This is significantly better than last year's 4.2 million tons and corresponds to an average harvest. Last year, many farmers were hit twice, both by low volume and poor quality of the harvest due to heavy rainfall.

Right now, it looks good, significantly better than last year, says Lars-Erik Lundkvist, agricultural policy expert at the Swedish Farmers' Federation (LRF).

Last year's grain harvest was among the worst in 30 years, and Sweden, which usually exports grain, has had to import to cover the need.

This year, we should be able to export. In a normal year, we export around 20 percent of the harvest, and we should be able to do that this year as well.

The harvest of fodder for cattle and dairy cows also looks set to be normal. However, it is too early to expect any major price changes in the consumer sector.

There will likely be no major changes. Prices here also depend on the world market price of grain. If there are large harvests in Europe and the rest of the world, there may be price pressure, otherwise, we don't expect any major price changes.

Correction: An earlier version contained an incorrect figure regarding last year's harvest.

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By TTThis article has been altered and translated by Sweden Herald

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