European agricultural price hikes settled in 2023 - Eurostat
By Nathan Vifflin
Jan 19 (Reuters) -The average price of agricultural goods in the European Union rose 2% last year, slowing from a jump of 24% in 2022, the EU's statistics office reported on Friday.
Cereals, including wheat, barley, maize, and oats saw a 23% price decrease between 2023 and 2022.Cereals had seen an increase of 45% in 2022 compared with 2021.
Russia's invasion of Ukraine, widespread droughts, and inflationary pressures, drove sharp price increases for cereals, eggs and milk in 2022.
However, some crops continued to be significantly impacted by droughts in 2023, with prices of some products, such as olive oil and potatoes rising 54% and 23%, respectively, year-on-year, Eurostat said.
Other products, such as eggs, rose 20% on average, topping a 43% increase in 2022, while fertilisers and soil improvers decreased 23% after an 87% increase in 2022.
Reporting by Nathan Vifflin, Editing by Louise Heavens
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