The second quarter of the current year ended for the agricultural sector with contradictory data which, despite a context of generalized economic growth, have caused concern among sector analysts.
According to the Ismea report, the price index of agricultural products continues to indicate a decline in prices on a cyclical basis, recording a decline of five and one percent on an annual basis in the April-June period, but with substantial stability in the first quarter of 2024 compared to the values recorded in the same time frame of 2023. The average value of the prices of current vehicles is also stable, while a drop of five and four percent is recorded on the value of the second quarter of 2023 mainly due to the contraction in feed prices and fertilizers accrued over the last year.
Despite this two-speed trend, exports continued to grow, recording an increase of eight and three percent on an annual basis in the first five months of the current year and reaching a value of 28 billion and half a euro. At the same time, agri-food imports also increased, in the order of two and a half percent, a dynamic which in practice contributed to further improving the trade balance, positive by almost one and a half billion compared to the first five months of 2023 and capable of determining a sector surplus of 466 million euros.
Title: Agricultural sector, fluctuating second quarter
Translation with Google
