While some European countries rejected Ukrainian grain in order not to destabilize the situation on the grain market, prices for agricultural products in the EU began to change sharply.
The average price of agricultural products in the European Union increased by only 2% in the second quarter of 2023. At the same time, according to Eurostat data, a 17% price increase was recorded in the first quarter.
Important
The biggest price increase was recorded among the main groups of agricultural products in the second quarter of 2023:
- for citrus – +89% on average;
- for olive oil – +48%;
- for potatoes – +38%.
Eurostat believes that the increase in prices is due to reduced production in regions experiencing severe drought in the summer of 2023.
At the same time, other products are becoming more expensive. For example, in the EU the price of eggs increased by 41% and the price of pork increased by 28%. Poultry and milk prices can still be called stable.
The fastest rates of increase in prices of agricultural products were recorded in countries with abnormal heat and drought: Portugal (+22%), Greece (+21%) and Spain (+16%). At the same time, a sharp decline in prices was recorded in two countries in the bloc: Lithuania (-26%) and Estonia (-15%).
As for sources not related to investments, the sharpest rates of price decline in the European Union were recorded for:
- fertilizers – by 23%;
- energy carriers and lubricants – by 13%;
- animal feed – 5%.
Important
Let us remind you that food products familiar to every Ukrainian in Europe may be a little more expensive than those at home. wrote about it Focus in his new article “Is it really cheaper in Poland? How much do products cost in different European countries.” For example, in Poland, dairy products may be cheap, but eggs and sugar are twice as expensive.
Previously Focus He wrote how much money Ukrainians spend on food and how much residents of the European Union and the USA spend.
Source: Focus
John Holton is a seasoned author and journalist, known for his expertise in economics. He currently works as a writer at 24 news breaker, where he provides readers with in-depth analysis and commentary on the latest economic developments. With a background in finance and a talent for explaining complex economic concepts in a clear and accessible way, John’s writing is a must-read for anyone interested in staying informed about the economy.