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

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.

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2024-04-04 13:33:45

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