Within the second quarter of 2024, agricultural costs within the EU declined for each outputs and inputs not associated to funding. The common value of agricultural output fell by 3% within the second quarter of 2024 in contrast with the identical quarter in 2023.
Throughout this era, the common value of products and companies at the moment consumed in agriculture (inputs not associated to funding, corresponding to vitality, fertilisers or feedingstuffs) decreased by 7%. These declines have been, nonetheless, barely much less sharp than within the earlier two quarters.
After a interval of sharp will increase in agricultural costs throughout 2021 and the primary 3 quarters of 2022, the pace of development slowed and costs ultimately began to say no. The latest decreases in agricultural output and enter prices are within the route of calmer pre-2021 ranges.
This info comes from information on agricultural value indices revealed by Eurostat.
Supply datasets: apri_pi20_outq and apri_pi20_inq
A better have a look at the info exhibits contrasting value developments for agricultural outputs within the second quarter of 2024 in contrast with the identical quarter of 2023. Giant declines have been recorded within the costs of eggs (-15%), cereals (-14%) and forage crops (-13%). In contrast, supply-side shortages led to continued costs will increase in olive oil (+41%) and potatoes (+10%).
Usually, costs of fruit and greens modified modestly (+3% as an entire for fruit and -1% for greens, respectively), though there have been notable contrasts for particular merchandise. Inside the class of fruit, the sharpest decline in contrast with the identical interval in 2023 was for lemons and limes (-48%), the sharpest improve being for fruit from subtropical and tropical climates (+51%). For greens, there have been steep falls within the costs of onions (-46%) and tomatoes (-27%), which contrasted with sharp rises for contemporary pulses (+39%) and cauliflowers (+35%).
Amongst inputs not associated to funding, the steepest value declines have been recorded for fertilisers and soil improvers (-19%) and animal feedingstuffs (-13%).
Quarterly costs lowering in most EU nations
On the nationwide degree, many of the EU nations (17 out of 25 with out there information) registered a lower in agricultural output costs within the second quarter of 2024, in contrast with the identical quarter of 2023. The sharpest value declines have been in Hungary (-13%), Poland (-12%) and Czechia (-10%).
In contrast, the best will increase have been recorded in Greece (+8%), Latvia (+4%), Cyprus and Eire (+3%).
Supply datasets: apri_pi20_outq and apri_pi20_inq
Relating to inputs not associated to funding, all of the EU nations with out there information recorded decreases within the second quarter of 2024, in contrast with the second quarter of 2023. The sharpest charges of decline have been in Croatia (-14%), Hungary, Spain and Slovakia (-11% every).
For extra info
- Thematic part on agriculture
- Database on agriculture
- Key figures on the European meals chain
- Webinar on Key figures on the European meals chain
Methodological word
EU mixture estimated. Information for Italy and Sweden usually are not out there.