While agricultural prices across the European Union declined in the first quarter of 2024 compared to the same period last year, Greece stands out as an exception.
According to Eurostat, the EU average for agricultural output prices fell by 6%. However, Greece defied the trend, experiencing a significant price increase of 20%. This positive development comes after a period of volatility in agricultural prices, with sharp rises seen in 2021 and the first three quarters of 2022, followed by a slowdown and subsequent decline.
The reasons behind Greece's price resilience are multifaceted. Notably, the recent price decreases in EU agricultural outputs and input costs might reflect a return to more stable pre-disruption levels.
While there were price drops for some Greek agricultural products, such as cereals (-28%), the increase in the price of other key categories mitigated the overall impact. Notably, potato prices rose by 22%, and fresh fruit by 20% (despite a drop in lemon and lime prices).
Experts suggest this rise in fruit prices might be a response to anticipated weather conditions potentially affecting harvests.
Read more: Eurostat Reports for Greece
(Source: Eurostat)