Q4 2022: Agricultural prices increase at a lower rate
Eurostat has release today the latest information and stats about agricultural pricing in the last quarter of 2002, pricing still up but a lower rates. The Ukraine invansion from Russia has significantly damaged the global agricultural markets in 2022
In the period before the war, Russia and Ukraine played a significant role in the global export of agricultural products such as grains, wheat, maize, oilseeds (specifically sunflowers), and fertilisers. According to Eurostat data, there was a noticeable rise in agricultural prices throughout 2022, with the most significant increases occurring in Q2 and Q3. Nevertheless, there was a small decrease in the rate of price increases for both agricultural products and inputs during Q4.
Russia and Ukraine were major players in the global export of agricultural products, including grains, wheat, maize, oilseeds (especially sunflowers), and fertilizers, until the war broke out. The data from Eurostat indicates a significant increase in the prices of agricultural commodities during all quarters of 2022, with the peak being in the second and third quarters (Q2 and Q3). However, in the fourth quarter, there was a slight deceleration in the rate of price hikes for both agricultural products and inputs.
Change in quarterly agricultural prices indices split by country
Agricultural input and output price indices in the EU
This information comes from data on agricultural price indices published by Eurostat today.