EU agricultural prices to decline slightly in 2024

Published 2024년 12월 20일

Tridge summary

For 2024, early estimates show a decrease in the average price of agricultural goods in the EU by 2%, and a larger 6% decrease in the average price of goods and services consumed in agriculture, according to Eurostat. This follows a period of price increases in the previous years. Specific price changes include a significant rise in olive oil, potatoes, and fruit, but a fall in cereals, eggs, pigs, poultry, and vegetables. Additionally, there were varied price changes in feed, energy lubricants, seeds and planting material, veterinary expenses, fertilizers, soil improvers, plant protection products, and pesticides.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Early estimates for 2024 indicate that the average price of agricultural goods (output) in the EU decreased by 2% compared to 2023, while the average price of goods and services consumed in agriculture (inputs) fell by 6%. This drop in agricultural prices follows strong increases in 2021 and 2022, as well as a modest increase in 2023, according to Eurostat data. In 2024, prices for various products experienced significant variations. Strong increases were recorded for olive oil (+30%), potatoes (including seed potatoes) (+12%) and fruit (+7%), as well as slight increases for cattle (+2%) and milk (+1%). In contrast, there were declines in cereals (-15%), eggs (-8%), pigs (-7%), poultry (-6%) and vegetables and horticultural products (-2%). Among the goods and services consumed in agriculture, prices ...

Source: Financialfood