The year-on-year increase in agricultural commodity prices slowed in the first quarter to 17% in the European Union (EU), with Portugal and Spain showing almost twice that (both registering 33%), Eurostat reports today. According to data from the EU statistical office, between the first quarter of 2022 and the first three months of 2023, the average price of agricultural products as a whole (output) increased by 17% – a lower rate than in the previous quarter. But the sharpest rates of increase were recorded in Portugal and Spain, brought on by the drought in both countries that has driven prices up even further.
