Agricultural Prices in Czech Republic Continue Downward Trend

The prices of agricultural products in the Czech Republic have experienced a significant decrease of 16.2 percent in November compared to the previous year. This marks the seventh consecutive month of price drops, with November’s decline being more pronounced than October’s, which saw prices decrease by roughly a tenth.

In spite of repeated decreases in agriculture, prices in the industry were higher year-on-year by 0.8 percent, though they did decrease by 0.4 percent month-on-month, according to data released by the Czech Statistical Office (CZSO).

In the plant production sector, prices decreased year-on-year by 19.4 percent. Cereals saw a significant price drop of 36.3 percent. Prices of oilseeds were also over a third lower (-35.8 percent). On the other hand, fruit prices increased by 40 percent and potatoes by more than 31 percent. In the case of vegetables, there was a three percent increase.

In the animal production sector, prices decreased by 10.5 percent. Milk was cheaper by 18.5 percent, eggs by 2.9 percent, cattle by 3.1 percent, and poultry by a straight four percent. However, the prices of pigs increased by 9.5 percent.

In the industry sector, the annual growth of prices accelerated to 0.8 percent from October’s 0.2 percent. Prices of electricity, gas, steam, and air conditioning increased by eight percent, while coal prices increased by almost 62 percent year-on-year.

Prices of construction works increased year-on-year by 3.3 percent after October’s growth of 3.6 percent. Prices of materials and products consumed in construction were 0.5 percent lower in November than the previous year. In a month-on-month comparison, construction work prices increased by 0.1 percent, while materials and products prices decreased compared to October by 0.1 percent.