Agricultural products have fallen in price in Latvia over the past year

Compared to 2022, the price index for livestock products in 2023 decreased by 8.9%, while the price index for crop products decreased by 24.3%.

The level of prices for crop products in 2023 was mainly affected by a decrease in the price index for grains by 28.6%, of which for barley – by 37.3%, for rye – by 31.3%, for wheat – by 27.4 %, and for rapeseed – by 30.7%.

In turn, the price level for livestock products was significantly affected by a decrease in the price index for raw milk – by 24.4%.

Among crop production in 2023, the largest decrease was recorded in prices for grains, legumes and rapeseed.

The average purchase price of grain last year decreased by 27.3% – from 286.59 euros/t in 2022 to 208.39 euros/t in 2023. The most noticeable decrease in prices occurred for barley and rye – by 33.7% and 31.3%, respectively. The price of wheat, which in 2023 accounted for 85% of total grain purchases, decreased from 289.61 euros per ton in 2022 to 211.72 euros in 2023, or by 26.9%.

A significant decrease in prices was also observed for legumes and rapeseed – by 30.9% and 28.9%, respectively.

The average purchase price of potatoes decreased from 219.97 euros/t in 2022 to 215.64 euros/t in 2023, or by 2%.

Compared to 2022, prices have increased for almost all types of vegetables: onions – by 23.1%, carrots – by 11.5%, cabbage – by 9.2%, cucumbers – by 5.5%. There was a slight decrease in prices for tomatoes – by 1.9%.

In livestock farming, the most noticeable decrease in prices occurred for raw cow’s milk – by 24.6% or from 471.18 euros/t in 2022 to 355.05 euros/t in 2023.

Last year there was a significant increase in pork prices – by 584.55 euros per tonne or 34.1%, reaching the highest price in the last 30 years – 2300.49 euros per tonne. Compared to 2021, the price of pork has increased by 76.7%.

Last year, the average purchase price of beef and veal decreased by 334.88 euros per tonne, or 11.1%.

Compared to 2022, the average purchase price of eggs increased by 26.1% – from 10.21 euros per 100 eggs in 2022 to 12.87 euros in 2023.