Eurostat: Fertilizer and cereal prices decline within Europe in 2023

31 January 20242 min reading

Eurostat reveals a substantial 23% decrease in fertilizer prices across Europe for 2023, impacting 22 out of 26 countries. Simultaneously, cereals, including crucial feed ingredients, witness a notable 26% price drop.

In the realm of agricultural economics for 2023, initial assessments of price indices indicate a departure from the sharp increases of 2021 and 2022. The overall average price of agricultural goods in the EU experienced a modest 2% increase while the cost of goods and services vital to agriculture saw a significant 5% decrease, according to recent statistics from Eurostat.

The nuanced pricing landscape reveals specific product variations, with notable increases of 20% for eggs and 22% for pigs. In contrast, a substantial 26% decrease was observed for cereals, covering wheat, barley, maize, rye, oats, and other types.

Eurostat's statistics indicate a positive turn for European farmers. Fertilizer prices witnessed a substantial 23% decrease in 2023 across 22 out of 26 countries, including noteworthy drops in Luxembourg (-46%), Sweden (-41%), and Finland (-39%), bringing economic relief to the agriculture sector. Conversely, prices saw an increase in Cyprus (14%), Malta (9%), Greece (6%), and Romania (3%).

Simultaneously, cereals, critical feed ingredients like barley, wheat, maize, rye, oats, and more, also experienced a significant 26% decrease. On the other hand, the average price of plant protection products and pesticides increased by 9%, mirroring a similar rise in seeds and planting stock.

Articles in News Category
10 August 20232 min reading

'More than Dirt' conference digs deep into regenerative agriculture

02 January 20242 min reading

New members of BRICS are just in