The largest decrease in the third quarter compared to a year earlier was recorded for eggs for consumption – minus 20.8%. On an annual basis, mineral fertilizers have become cheaper by 18%
The index of producer prices in agriculture for the third quarter of 2024 decreased by 1.9% compared to the same quarter of 2023. as a result of a drop in the price index of crop production – by 1.4% and in the price index of livestock production – by 3.9%, NSI reported.
Plant breeding
Compared to the previous year (on an annual basis), the prices of agricultural products decreased by 7.1%, and in crop production they decreased by 7.6% and in livestock production by 5.0%.
Compared to 2023 (on an annual basis) the prices of cereals are lower – by 14.3%, as a result of the fall in the prices of soft wheat by 14.0%. In technical crops, an increase of 4.3% was registered, as a result of the increase in the prices of rapeseed and rape – by 12.9%, of oil-bearing rose – by 16.3% and the price of oil-bearing sunflower – by 3.7%.
Prices of fresh vegetables increased by 2.8%, while prices of fresh fruit decreased by 1.0%.
Animal husbandry
Live animal prices decreased by 7.9% compared to the same quarter of 2023, as a result of the decrease in hog prices by 5.7% and broiler prices by 15.7%.
A 0.1% price increase was recorded for livestock products, which was the result of a 7.7% increase in cow’s milk prices.
In animal husbandry in the third quarter of 2024. compared to 2023 (on an annual basis) live animal prices decreased by 4.4%, as a result of the decrease in prices of pigs by 1.7% and poultry by 9.8%.
The prices of animal husbandry products recorded a drop of 5.6%, with the largest decrease recorded for hens’ eggs for consumption – by 20.8%. A 5.7% price increase was observed for hens’ eggs for breeding.
Current consumption
The price index of products and services for current consumption in agriculture for the third quarter of 2024. was lower by 1.1% compared to the same quarter of the previous year and decreased by 4.3% compared to 2023 (on an annual basis).
Compared to the corresponding quarter of 2023. an increase in the prices of: seed and planting material – by 13.6%, plant protection products – by 4.8% and veterinary medicinal products – by 4.5% was recorded. The prices of electricity and fuels decreased – by 4.4%, mineral fertilizers – by 3.3%, and feed – by 3.9%.
Compared to 2023 (on an annual basis) there was an increase in the prices of seed and planting material – by 12.3%, plant protection products – by 8.0% and veterinary medicinal products – by 4.2%. The prices of mineral fertilizers – by 17.9% and forages – by 6.7% decrease.
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What impact did changes in consumer demand have on the decrease in agricultural product prices in Bulgaria during the third quarter of 2024?
1. Could you please provide further insight into the reasons behind the decrease in prices of agricultural products in Bulgaria’s third quarter of 2024? What were the key factors influencing this trend?
2. How has the production and sales of technical crops, such as rapeseed and soybean, contributed to the overall change in producer prices in agriculture?
3. How has the COVID-19 pandemic and related economic impacts affected the prices of agricultural products in Bulgaria, and what measures have been taken by the government to mitigate these effects?
4. What are some challenges and opportunities facing Bulgarian farmers in terms of animal husbandry, specifically in relation to livestock and poultry prices?
5. With a decrease in the prices of mineral fertilizers and feed, what strategies are farmers implementing to maintain profitability and sustainability in their operations?
6. How is the decline in the prices of hens’ eggs for consumption affecting the poultry industry in Bulgaria, and what potential long-term implications could this have?
7. What role does the European Union play in regulating agricultural prices and supporting farmers in Bulgaria?
8. As prices of seed and planting materials continue to rise, what steps are being taken to ensure their affordability and accessibility for small-scale farmers?
9. There is a notable increase in the prices of plant protection products and veterinary medicines. What factors are contributing to this trend, and how are these costs affecting farmers’ bottom lines?
10. How does the use of new technologies, such as precision agriculture and genetic engineering, impact the prices of agricultural products in the long run?
