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Price Increase Expected for Agricultural Products

A price increase of 1.3 percent for agricultural products is expected this year compared to last year, with plant product prices potentially rising by 4.2 percent, while livestock and livestock product prices could fall by 4.1 percent, according to data from the Croatian Bureau of Statistics (DZS) on agricultural price forecasts. An increase in plant product prices is expected due to rising prices in all groups that have a significant share in plant production, the DZS emphasizes, noting that a price drop is expected in the grain group. A price increase of 28.5 percent for fruits, 6.2 percent for potatoes, including seed potatoes, 14.6 percent for wine, 10.3 percent for olive oil, and 11 percent for industrial crops is forecasted, among others.

At the same time, a price drop of 4.9 percent for grains and 0.4 percent for vegetables is expected. For livestock and livestock products, a price drop is expected in all livestock groups compared to 2023. A price drop of 5.9 percent for pigs, 0.6 percent for cattle, 12.5 percent for poultry, 3.8 percent for milk, and 10.7 percent for table eggs is expected, among others. For goods and services for current use in agricultural production, a price drop of 11.6 percent is expected this year compared to last year. It is expected that fertilizer prices will fall by 24.5 percent, energy and lubricants by three percent, animal feed by 19 percent, plant protection products by 6.8 percent, and seeds and planting material by 7.3 percent.

At the same time, a price increase for veterinary services of 9.7 percent is expected. The forecast for the agricultural price index for 2024 is calculated based on the price movements of agricultural products from January to September of the current year and the estimated price movements for the period of October – December. The prices used for the forecast calculation for the first nine months of 2024 were obtained from quarterly surveys on the purchase and sale of agricultural products and other DZS surveys, administrative data from the Ministry of Agriculture, Forestry and Water Management, and other administrative sources.