site.btaBulgarian Agricultural Prices Show Continued Decline

The producer price index in agriculture continued its decline for the second quarter of 2024, dropping 3.4% in comparison with the same quarter of 2023, the National Statistical Institute (NSI) wrote in a report on Thursday. In terms of crop output, the most significant drop in the second quarter of 2024 was recorded in the prices of cereals year-on-year.

In the second quarter of 2024 compared to the previous year, the prices of agricultural output decreased by 4.2%, in crop output they dropped by 4.3% and in animal output - by 4.1%, the report says. In the second quarter of 2023, compared to 2022, NSI reported a 4.8% decline in agricultural output, 15.8% decline in crop output, and 12.9% increase in animal output.

The producer price index in agriculture for the second quarter of 2024 decreased by 3.4% in comparison with the same quarter of 2023 as a result of a decrease in the price index of crop output - by 3.8% and in the index of animal output - by 3.0%. NSI reported that in the same quarter of 2023 y-o-y, the producer price index in agriculture declined by 6.4% due to a 19.5% decline in the crop output price index, while the animal output index saw a 14.8% increase.

In the second quarter of 2024, compared to the same quarter of 2023, a decrease was registered in the prices of cereals (18.0%), as a result of the decrease in the price of soft wheat (15.5%). The trend is preserved compared to 2023 y-o-y, with a 15% decline in the prices of cereals. NSI reported that in the second quarter of 2023 compared to the same quarter in 2022, the industrial crops had the highest rate of decline - 32.1%. The trend is preserved compared to 2023 y-o-y, when the decline in prices of industrial crops was 24%.

Compared to the corresponding quarter of 2023, the prices of live animals decreased by 1.4% in the second quarter of 2024, and the prices of animal products recorded a decrease of 4.7%. Compared to 2023, there is a decline of prices of live animal by 1.8% and animal products prices by 6.6%. In the second quarter of 2023, compared to the same period in 2022, prices of live animal have increased by 19.6%, and prices of animal products have increased by 9.3%. Compared to 2022, the increase was 18.8% and 6%, respectively.