The European Food Prices Monitoring Tool is a European Commission initiative to increase transparency in the food supply chain. This will encourage competition throughout the agro-food supply chain and improve its resilience to price volatility.
The main aim of the Food Prices Monitoring Tool is to bring together data on price developments in the different parts of the food supply chain to compare changes in prices for:
- agricultural commodities
- food industry products and
- consumer goods.
The tool facilitates comparisons of price indices of goods at various stages of the food supply chain (e.g. grains, flour and bread). It is developed by Eurostat.
The European Food Prices Monitoring Tool comprises:
Eurostat developed the first version of the Food Prices Monitoring Tool following the Commission Communication, ‘Food Prices in Europe’ published in 2008. The tool used data collected by Eurostat and National Statistical Offices.
Eurostat is further developing the tool following the 2009 Commission Communication, ‘A better functioning food supply chain in Europe’. This phase of development has drawn on the work of the Expert Platform on the Food Prices Monitoring Tool that was set up to improve the tool in the context of the first High Level Forum for a Better Functioning Food Supply Chain (2010-2014).
Other reports on price developments for agricultural commodities and food
The Commission publishes monthly reports on price developments for agricultural commodities and food