Spanish agricultural income reaches record high

Published Dec 18, 2024

Tridge summary

The Ministry of Agriculture in Spain has reported a 14.2% increase in agricultural income in 2024, totaling 37,759 million euros, thanks to lower production costs and increased production values. The sector saw a surge in output, with vegetable production up by 8.9% and animal production down by 1.3%, despite an increase in quantities produced. The value of cereals, olive oil, wine, and fruits also rose, while intermediate consumption, driven by feed, saw a 9% decrease due to lower purchase prices. This performance marks the highest historical value of agricultural production in Spain, reaching 68,430 million euros.

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

Original content

Agricultural income stood at 37,759 million euros in 2024, which represents an increase of 14.2% compared to 2023, according to the first estimate of the main economic figures for the agricultural sector published by the Ministry of Agriculture, Fisheries and Food. Among the main factors that explain this evolution are the decrease in production costs and the increase in the value of production in the agricultural sector, reaching its highest historical value, 68,430 million euros. The growth in production in the agricultural sector, which includes both vegetables and animals, is mainly due to the increase in quantities produced (+11%), since prices, in line with the decrease in general inflation, decreased by 6%. The volume of work in agriculture increases by 1.5% and agricultural income in current terms per Annual Work Unit (AUT) increases by 12.6%, to 45890 euros. Vegetable Production Vegetable production increased by 8.9% in value, up to 38831 million euros, due to higher ...

Source: 3tres3