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Agricultural income stood at 37,759 million euros 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, 68.43 billion euros. 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%.
The volume of work in agriculture increased by 1.5% and agricultural income in current terms per Annual Work Unit (AWU) rose by 12.6% to 45,890 euros.
Crop production
Crop production increased by 8.9% in value, to 38,831 million euros, due to higher production (+19%), in a climatically good year in 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.
The value of olive oil production also rose (+51%), due both to the better harvest (+23%) compared to the very poor previous year, and to high prices (+23%). Wine and must production also improved (+10%) due to a larger harvest. In terms of economic importance in the overall calculation, the increase in the value of fruit (+6%) and the slight drop in the value of vegetables (-1%) stand out.
Animal production
The value of animal production fell by 1.3% due to the drop in prices (-2%), while the quantities produced increased slightly (+1%). In this branch, cattle (+15 %) and poultry (+5 %) performed well, while the value of pigs, milk, and eggs fell.
Intermediate consumption
Intermediate consumption value fell by 9% to 28,913.6 million euros, 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.
December 16, 2024/ MAPA/ Spain.
https://www.mapa.gob.es
