In the fourth quarter of 2024, the average price of agricultural output that farmers get at the farm gate in the EU increased by 2.2% compared with the same quarter in 2023. This represents the first increase since the second quarter of 2023.
By contrast, the average price of goods and services currently consumed in agriculture (inputs not related to investment, such as energy, fertilisers or feedingstuffs) decreased by 2.7% compared with the fourth quarter of 2023. Nevertheless, this was a smaller rate of decline, than in the preceding 6 quarters.
This information comes from data on agricultural price indices published by Eurostat today.
Source datasets: apri_pi20_outq and apri_pi20_inq
The average price of agricultural output increased in most EU countries in the fourth quarter of 2024, the exceptions being Portugal (-8.1% compared with the fourth quarter of 2023), Spain (-5.9%), Greece (-2.8%) and Finland (-2.4%). The sharpest rates of increase were observed in Ireland (+18.4%), Hungary (+14.9%) and Romania (+11.0%).
In terms of the average price of inputs not related to investment, there were declines in the fourth quarter of 2024 in most EU countries, the exceptions being Romania (+2.6% compared with the fourth quarter of 2023), Hungary (+1.7%) and the Netherlands (+1.4%). Rates of decline ranged from -0.2% in Lithuania and -0.4% in Austria to -7.1% in Spain and -8.0% in Cyprus.
Source datasets: apri_pi20_outq and apri_pi20_inq
Milk prices in the EU increased sharply (+15.3% on average) in the last quarter of 2024 compared with the same quarter of 2023. There were rises in 24 EU countries, the steepest rates being observed in Ireland (+43.7%), Lithuania (+33.2%), Belgium (+30.8%) and Sweden (+30.3%).
Cereal prices changed slightly (+0.3% on average across the EU), but this reflected contrasting developments among countries. There were declines in 17 EU countries, with increases in the other 10 countries. The sharpest rate of increase was reported in Slovenia (+20.3%).
Among the goods and services consumed in agriculture, there were sharp rates of decline in the prices of fertilisers and soil improvers (-6.9% on average in the EU) and feedingstuffs (-5.0%) in the last quarter of 2024, compared with the same quarter of 2023. Prices for fertilisers and soil improvers were lower in 23 EU countries, most notably in Slovakia (-20.3%) and Romania (-18.8%). Prices for feedinstuffs were lower in 25 EU countries, falling by up to -12.9% in Latvia, -12.6% in Cyprus and -12.4% in Slovakia.
Source: Eurostat, https://ec.europa.eu/eurostat/product?code=ddn-20250313-2
