Eurostat: Agricultural Output Prices in the EU Rose in Q4 2024, While Input Costs Continued to Fall

According to Eurostat, in the fourth quarter of 2024, the average price of agricultural output received by EU farmers at the farm gate increased by 2.2% compared to the same period in 2023. This marks the first rise since Q2 2023.

By contrast, the average price of goods and services currently consumed in agriculture—inputs not related to investments such as energy, fertilizers, and animal feed—decreased by 2.7% compared to Q4 2023.

However, this decline was less steep than in the previous six quarters, indicating a potential stabilization in input costs. These figures come from the agricultural price index data published today by Eurostat.

Output Prices Up in Most EU Countries

In Q4 2024, the average price of agricultural production rose in most EU countries. Exceptions included:

• Portugal (-8.1% vs. Q4 2023)
• Spain (-5.9%)
• Greece (-2.8%)
• Finland (-2.4%)

The highest growth rates were recorded in:

• Ireland (+18.4%)
• Hungary (+14.9%)
• Romania (+11.0%)

Input Prices Drop—But Not Everywhere

As for non-investment agricultural inputs, prices fell in most EU countries in Q4 2024. However, a few exceptions stood out:

• Romania (+2.6% vs. Q4 2023)
• Hungary (+1.7%)
• The Netherlands (+1.4%)

The rate of decline in input prices ranged from:

• -0.2% in Lithuania
• -0.4% in Austria To more significant drops like:
• -7.1% in Spain
• -8.0% in Cyprus