Eurostat: Agricultural output prices in the EU up 2.2% year-on-year

In the European Union, agricultural output prices rose by an average of 2.2% in the last quarter of 2024 compared to the same period last year, Eurostat said on Thursday.

The increase was recorded for the first time since the second quarter of 2023.

In contrast, prices of goods used in agricultural production (inputs not related to investment, such as energy, fertilisers or feed) were on average 2.7% lower in the October-December period last year than a year earlier.

Agricultural average prices increased in most EU countries, except Portugal (down 8.1%), Spain (down 5.9%), Greece (down 2.8%) and Finland (down 2.4%). The fastest growing countries were Ireland (18.4%), Hungary (14.9%) and Romania (11%).

Milk prices in the EU have risen sharply over the year by an average of 15.3%. Increases were recorded in 24 EU Member States, with the fastest increases in Ireland (43.7%), Lithuania (33.2%), Belgium (30.8%) and Sweden (30.3%).

The average increase in cereal prices was just 0.3%, reflecting conflicting developments in different countries. 17 EU countries saw a decrease, 10 saw an increase.

On the other hand, fertilisers and soil improvers fell by an average of 6.9% over the year, while feed & feedstuffs fell by 5%.