January 23, 2025

 

Value of Spain's agricultural production last year 4.3% more than in 2023

 

 

Spain's agricultural production in 2024 reached a record value of €68.43 billion (US$74.59 billion), 4.3% more than in 2023.

 

The country's agricultural income stood at €37,759 million (US$41.16 billion) in 2024, an increase of 14.2% over 2023, according to the first estimate of the main economic figures for the agricultural sector published by the Ministry of Agriculture, Fisheries, and Food.

 

Among the main factors explaining this evolution are the decrease in production costs and the increase in the production value of the agricultural branch, reaching its highest historical value of €68.43 billion (US$74.59 billion ). The growth in agricultural production, which includes both crops and animals, is mainly due to the increase in the quantities produced (+11%), as prices, in line with the decline in general inflation, have fallen by 6%.

 

Spain's crop production increased by 8.9% in value, to €38,831 million (US$42.32 billion ) due to higher production (+19%) in a climatically good year for most of Spain, which offset the decline in prices received by farmers (-8%), once the highs recorded in 2022 were surpassed.

 

Cereals saw a 50% increase in value, the result of a recovery in production (+77%), following the severe drought of 2022 which led to a significant drop in the harvest when it fell to historic levels.

 

Spain's value of animal production fell by 1.3% due to the drop in prices (-2%), while the quantities produced increased slightly (+1%). In this segment, cattle (+15%) and poultry (+5%) performed well, while the value of pigs, milk, and eggs fell.

 

Intermediate consumption value fell by 9% to €28,913.6 million (US$31.52 billion), as a result of the drop in purchase prices (-10%), since the quantity used increased by 2%.

 

Animal feed, which accounts for more than half of the amount of intermediate consumption, fell by 18% in value, due to the drop in prices.

 

- MAPA