Milk prices surge, input costs decline more slowly

Average agricultural prices in the EU rose again in the fourth quarter of 2024. This marks the first increase since the second quarter of 2023. On average, farmers received 2.2% more for their agricultural products compared to the same period a year earlier.

Significant rise in milk prices across most of Europe

One of the most notable developments is the sharp increase in milk prices. On average, prices in the EU rose by 15.3%. In 24 of the 27 member states, an increase was recorded. The strongest rises came from Ireland (+43.7%), Lithuania (+33.2%), Belgium (+30.8%), and Sweden (+30.3%). Cereal prices remained relatively stable, with an average increase of 0.3%, although trends varied significantly between countries. The steepest increase was seen in Slovenia (+20.3%).

Input costs decline, but at a slower pace

The cost of goods and services consumed in agriculture fell by 2.7% on average compared to Q4 2023. That decrease is less pronounced than in the six preceding quarters. Fertilisers and soil improvers (-6.9%) and feedingstuffs (-5.0%) became particularly cheaper. The largest price drops for fertilisers were seen in Slovakia (-20.3%) and Romania (-18.8%). Feedingstuffs showed the sharpest declines in Latvia (-12.9%) and Cyprus (-12.6%).

The Netherlands among the exceptions

While most countries saw input costs go down, the Netherlands recorded a slight increase (+1.4%). Costs also rose in Romania (+2.6%) and Hungary (+1.7%).

Ec.europa.eu