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Croatia Records the Largest Drop in Agricultural Costs in the EU in the Second Quarter

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Croatia recorded the largest drop in input costs in agriculture in the EU in the second quarter, and with the drop in agricultural product prices, it followed the European average, as shown in a report by Eurostat on Thursday.

At the EU level, agricultural products became cheaper by three percent in the second quarter compared to the same period last year, half as much as at the beginning of the year.

In the group of basic products, Eurostat singled out eggs, cereals, and industrial crops, whose prices were approximately 14 percent lower than in the second quarter of last year.

On the other hand, olive oil rose the most, by 41 percent, and double-digit price growth, by 10 percent, was recorded for potatoes due to supply shortages.

Fruit prices were only three percent higher than last year, with significant differences among individual product groups, statisticians note. Lemons were about half as cheap as last year, while tropical fruits were 51 percent more expensive.

Vegetable prices remained, more or less, at last year’s level. Onions were half as cheap, while green beans and cauliflower were nearly 30 percent more expensive than last spring.

Cheaper Hungary

In 17 EU countries, out of a total of 25 whose data Eurostat had, agricultural product prices were lower than last year in the second quarter.

By far the most, in the period from April to June, agricultural products became cheaper in Hungary, by 13 percent. Poland and the Czech Republic followed with prices lower by 12 and 10 percent, respectively.

In Croatia, agricultural product prices in the second quarter were two percent lower than in the same period last year. In the first quarter, they had decreased by four percent.

The highest price increase for agricultural products this spring was recorded in Greece, by eight percent. Latvia, Cyprus, and Ireland followed with prices higher by about three percent.

Lower Input Costs

The prices of goods and services used in agricultural production fell in the Union in the second quarter on average by seven percent compared to the same period last year.

At the beginning of the year, they had decreased by 11 percent.

This means that input costs in EU agriculture have been decreasing for a year, according to Eurostat’s calculations.

The prices of fertilizers and soil improvers fell the most in the period from April to June, by 19 percent. Animal feed prices were 13 percent lower than last year, statisticians calculated.

Double-Digit Drop

Input costs in agriculture were lower in the second quarter in all EU countries than last year, with the largest drop recorded in Croatia, by 14 percent, determined Eurostat.

Croatia also recorded the largest drop in the first quarter, by 20 percent compared to the beginning of last year.

Artificial fertilizers and soil improvers fell in price in Croatia in the second quarter by 35 percent, while animal feed fell by 23 percent. Seed and planting material costs stabilized after a 13 percent drop at the beginning of the year and were three percent higher than last year.

Motor fuel rose by 10 percent, five times stronger than at the beginning of the year.

Double-digit drops in total input costs in agriculture were also recorded in the second quarter of this year in Hungary, Spain, Slovakia, and Ireland, by about 11 percent.

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