Recent Agricultural Price Variations Across Countries, According to Eurostat Data

In 2023, the agricultural sector in the European Union experienced a shift from the previous years' steep price increases, according to fresh Eurostat findings.
The year witnessed a modest 2% rise in the average price of agricultural goods across the EU, contrasting with a 5% reduction in the prices of agricultural goods and services. Notably, there were substantial price hikes in certain areas, with olive oil surging by 54%, potatoes and seed potatoes by 23%, pig products by 22%, and eggs by 20%. Conversely, cereal prices, covering wheat, barley, maize, rye, and oats, saw a significant 26% drop.
Moreover, the average costs for fertilizers and soil improvement materials dipped by 23%, and energy lubricants saw a 12% decrease. However, there was a 9% increase in the prices of plant protection products and pesticides.
Focusing on potatoes, the widespread drought throughout the EU adversely affected production, resulting in price jumps in countries like Germany (49%), Slovakia (48%), and Croatia (44%). On the other hand, potato prices fell in Belgium (-18%), Cyprus (-14%), and Austria (-4%).
In terms of fertilizers, prices descended in 22 of the 26 EU countries with available data, with the most significant drops in Luxembourg (-46%), Sweden (-41%), and Finland (-39%). In contrast, increases were observed in Cyprus (14%), Malta (9%), Greece (6%), and Romania (3%).
Additionally, Eurostat's recent data revealed that the EU's sold wine production, including varieties like sparkling wine, port, and grape must, totaled 16.1 billion liters in 2022. The major contributors to this figure were Italy and Spain, each providing nearly 5.0 billion liters, accounting for 62% of the EU's total sold wine production.