First estimates of agricultural price indices for 2023 indicate a shift from the sharp price increases that characterised 2021 and 2022, but potatoes have seen a rise.
In 2023, the average price of agricultural goods as a whole (output) in the EU increased by 2% compared to the previous year, while the average price of goods and services currently consumed in agriculture (inputs) decreased by 5%.
The modest overall increase in the price of agricultural goods as a whole reflects contrasts between individual products, according to the latest data from Eurostat.
While significant price increases were recorded for olive oil (54%), potatoes including seed potatoes (23%), pigs (22%) and eggs (20%), a substantial decrease (26%) was recorded for cereals (an aggregate that covers wheat, barley, maize, rye and oats as well as other types of cereal).
Among inputs not related to investment, the average price of fertilisers and soil improvers declined 23% and that of energy lubricants decreased 12%.
On the other hand, the average price of plant protection products and pesticides rose 9%, as did seeds and planting stock.
Prices of potatoes
A widespread drought in 2023 impacted the production levels of a number of crops including potatoes according to Eurostat.
This in turn influenced prices, that of potatoes rising in 24 of the EU countries.
Prices rose fastest in Germany (49%), Slovakia (48%) and Croatia (44%). Decreases were recorded in three countries: Belgium (-18%); Cyprus (-14%); and Austria (-4%).
Fertiliser
Prices of fertilisers in 2023 were lower than in 2022 in 22 EU countries (out of 26 with available data).
Prices dropped fastest in Luxembourg (-46%), Sweden (-41%) and Finland (-39%). In contrast, prices were higher in Cyprus (14%), Malta (9%), Greece (6%) and Romania (3%).
