Price Monitoring Tool
What is it for?
The price monitoring tool can be used to monitor developments in market prices.
Given appropriate data, the price monitoring tool can be used for any level of the marketing system (farm, wholesale, retail). It can also be used for any type of food commodity.
The data requirements are relatively simple: monthly data on nominal market prices and the consumer price index (CPI). At least seven years of data are highly desirable, although it is possible to work with less depending on market dynamics.
Any basic spreadsheet programme can be used. The final output is a graph that shows past trends in prices as well as “benchmarks” for future price developments.