News Eurostat
Prices of agricultural inputs have exploded
In an already unstable market, the war in Ukraine has led to additional volatility, resulting in higher prices. Not only the price of agricultural raw materials has risen sharply, the inputs have also become much more expensive. The European statistical office Eurostat has calculated that the costs of goods and services in agriculture rose by 27% in the first quarter of this year compared to the first quarter of 2021.
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Choose the subscription that suits youThe prices of fertilizer, energy and lubricants are the biggest risers. Fertilizer consumption almost doubled in the first quarter of this year (namely 96,2%) compared to the same quarter a year earlier. Prices for energy and lubricants increased by 55,6%. The high grain prices are reflected in feed prices, which have increased by 22,9%. Compared to the fourth quarter of 2021, the average cost of goods and services in the EU for the agricultural sector has increased by 9,5%. These are only the costs for goods and services directly related to primary production. Costs and expenses in investments have not been taken into account.
Costs have risen faster than revenues
The average price for agricultural products has increased by 2021% compared to the last quarter of 6. Compared to the first quarter of 2021, the yields of agricultural products have increased by 19,9% on average. Oilseeds and grains made the biggest jumps at 51,7% and 41,5%. Cattle have increased in price by 24,2%, poultry by 22,2% and milk by 21,4%. On average in the EU, costs increased faster (9,5%) than revenues (6%) in the first quarter of this year compared to the last quarter of last year. However, in six Member States, including the Netherlands, revenues have increased (slightly more) than costs.
