What EU country saw the biggest increase in agricultural output prices in Q4 2024

Ireland reported the sharpest increase in agricultural output prices in the European Union in the fourth quarter of 2024, with an increase of 18.4% compared to the same period the previous year.

Other countries to report a notable increase in agricultural output prices included Hungary (+14.9%) and Romania (+11.0%), the Eurostat data showed.

At the other end of the scale, Portugal reported the biggest decline in agricultural output prices in the period, with a 8.1% decline, followed by Spain (-5.9%), Greece (-2.8%) and Finland (-2.4%).

Agricultural output prices

At a European level, agricultural output prices in the European Union increased by 2.2% in the fourth quarter, compared to the same period in 2023. The increase in Q4 was the first that has been reported since the second quarter of 2023.

The cost of agricultural inputs, such as energy, fertilisers, and feedstuffs, decreased by 2.7% year-on-year in the quarter, though the rate of decline was slower than in the previous six quarters, the data showed.

As regards the average price of inputs not related to investment, most EU countries reported a decline in the quarter, with Romania (+2.6%), Hungary (+1.7%), and the Netherlands (+1.4%) the only outliers.

Other findings from the Eurostat data include a sharp rise in milk prices across the EU in the fourth quarter, by 15.3% on average – led by Ireland (+43.7%), Lithuania (+33.2%), Belgium (+30.8%), and Sweden (+30.3%). Cereal prices, on the other hand, remained relatively stable, rising by just 0.3% on average. Read more here.

Price Indices of Agricultural Products in Q4 2024 (Output, 2020 = 100)

Editor

See Full Bio