Ukraine war’s disruption sends agriculture input prices up nearly 10% in Q1, European Union statistics office says – Reuters.com

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A French farmer harvests his area of barley all by way of sundown in Aubencheul-au-Bac, northern France, June 28, 2022. REUTERS/Pascal Rossignalol

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July 1 (Reuters) – Russia’s invasion of Ukraine has signalificantly disturbed worldwide agricultural markets by sharply driving up prices of key merchandise and inputs Similar to fertilizer and animal feed, The eu Union’s statistics office said on Friday.

Eurostat knowledge confirmed that The typical worth Of merchandise and providers presently consumed in agriculture elevated by 9.5% Inside The primary quarter of 2022 in contrast with the final quarter of 2021, collectively with a 21.2% hike for fertilizers and soil improvers, 17.4% for power and lubricants and 9.2% for animal feed.

The common worth of agricultural output elevated by 6% in The identical quarter, Eurostat said.

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The invasion of Ukraine by Russia, each primary agricultural exporters, is disrupting shipments of edible oils and fertilizer from the Black Sea area, sending prices of wheat, soy and corn To close data earlier this yr. study extra

Russia May even be a key fertilizer exporter and Ukraine is A critical exporter of corn and sunflower oil.

The common worth of fertilizer and soil improvers virtually doubled Inside The primary quarter of the yr in contrast with The identical interval in 2021, whereas power and lubricant prices rose by 55.6%. The greater value of cereals and power was mirrored in 22.9% rise Inside The typical value animal feed.

Prices of agricultural output Similar to cereals, oilseed, cattle, poultry and milk jumped between 51.7% and 21.4% in The identical interval yr-on-yr, Eurostat added.

The EU authorities on Friday lowered its forecast for gentle wheat manufacturing Inside the bloc in 2022/23 to properly under final season’s diploma however primarytained its outlook for doc exports.

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Reporting by Diana Mandiá
Modifying by Raissa Kasolowsky

Our Requirements: The Thomson Reuters Notion Guidelines.

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