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Table 3 Impacts on EU and US producer prices. Percentage difference from the baseline

From: Impacts of the COVID-19 Pandemic on the Global Agricultural Markets

 

EU

USA

2020

2021

2022

Band (%)

2020

2021

2022

Band (%)

Biofuels

Biodiesel

–14.7

− 2.6

3.9

60.7

–20.4

− 7.9

6.1

107.2

Ethanol

–11.7

− 1.2

6.8

36.9

− 3.9

9.0

48.8

Dairy

Butter

− 4.1

− 2.4

1.3

55.2

− 7.5

− 4.6

2.0

36.6

Cheese

− 4.3

− 2.3

0.7

11.5

− 7.4

− 4.6

1.6

10.6

Skim milk powder

− 3.4

− 1.9

− 0.7

20.1

− 3.9

− 2.5

− 0.4

16.8

Whole milk powder

− 3.9

− 2.0

0.3

5.7

− 4.6

− 2.6

0.3

5.5

Grains

Maize

− 1.0

− 1.9

− 0.8

11.5

− 7.3

− 9.7

− 2.2

12.2

Other coarse grains

− 3.6

− 6.4

− 2.9

5.7

− 5.2

− 8.5

− 4.4

5.8

Rice

− 2.7

− 2.7

− 0.3

56.6

− 2.7

− 2.8

− 0.3

125.0

Wheat

− 3.2

− 5.0

− 2.5

6.1

− 3.1

− 4.9

− 2.8

6.0

Meat

Beef and Veal

–10.4

− 0.8

5.7

17.9

–21.3

− 3.7

22.0

15.5

Pork

–18.5

4.6

9.4

16.4

–21.0

1.7

12.8

18.8

Poultry

− 7.6

− 3.6

0.9

38.6

− 7.2

− 4.3

0.7

60.4

Sheep

− 7.6

0.1

2.1

38.2

− 8.5

− 0.6

2.8

28.1

Oilseeds

Other Oilseeds

− 8.7

− 4.6

2.6

13.3

− 8.4

− 6.0

0.9

12.4

Soybean

− 5.1

− 6.8

− 0.9

9.9

− 5.0

− 7.0

− 1.1

10.4

Other processed products

Total Protein Meal

− 4.2

− 6.7

− 1.6

37.2

− 4.7

− 7.4

− 1.8

28.0

Vegetable oils

–13.1

− 8.7

2.4

16.4

–11.7

− 8.4

2.3

15.0

  1. The columns (Band  %) is a measure of the variation in world production resulting from stochastic oil prices. It represents the 95% range (the large bands in Fig. 4) as a percent of the scenario value in 2030