Sharp Increase in EU Farm-Gate Milk Prices in Late 2024, While Fertilizer and Feed Costs Drop

Farm-gate milk prices across the European Union rose sharply in the last quarter of 2024, increasing by an average of +15.3% compared to the same quarter in 2023, according to the latest sector-specific analysis from Eurostat.

Price increases were recorded in 24 EU member states, with the steepest rises observed in Ireland (+43.7%), Lithuania (+33.2%), Belgium (+3.8%), and Sweden (+3.3%).

Cereal prices, by contrast, showed only a slight overall change, with an average increase of +0.3% across the EU. However, this modest change masks considerable variation between countries: 17 member states experienced price decreases, while the remaining 10 recorded increases. The highest growth rate was reported in Slovenia (+20.3%).

Among inputs and services used in agriculture, prices fell significantly for fertilizers and soil improvers (-6.9%) and for animal feed (-5.0%) in Q4 2024 compared to Q4 2023.

Fertilizer and soil input prices dropped in most EU countries, with the most pronounced declines in Slovakia (-20.3%) and Romania (-18.8%). Feed prices decreased in 25 EU countries, with the steepest reductions reported in Latvia (-12.9%), Cyprus (-12.6%), and Slovakia (-12.4%).