Dairy and egg prices, Albania among the countries with the highest growth in Europe in 2024

2025-06-03 07:49:00, Ekonomi CNA

Dairy and egg prices, Albania among the countries with the highest growth in

Albania ranked fifth among 41 European countries for the large increase in milk, cheese and egg prices in 2024, according to new Eurostat data updated these days on annual price changes in Europe.

At the top of the list is Turkey, with a 38.6% increase in the prices of milk, cheese and eggs. Turkey has been experiencing hyperinflation for the past three years, which comes from a combination of structural problems in the Turkish economy and monetary policy.

It is followed by Malta with a growth of 6.7%, Norway with 5.9% and Iceland with 4%. Albania follows this ranking with a growth of 3.9%, significantly exceeding the EU and regional averages.

Iceland and Malta are island countries with low production capacities and high transportation costs, while Albania is not comparable to these countries.

The smallest increases in dairy and egg prices were recorded in countries such as Portugal with 1.8%, North Macedonia with 1.8%, Serbia with 1.5% and Montenegro with +1.1. Although inflationary pressures are easing in many European economies, Albania still faces challenges that make the food market with one of the highest growth rates in Europe.

Meanwhile, many European Union countries have experienced price decreases for this group of products, especially the Czech Republic with -6%, Hungary -4.4%, Finland -2.4%, and Germany -1.7%.

The euro area as a whole has seen an average annual decline of -0.4% to -0.5% in dairy and egg prices in 2024, reflecting stabilization or easing of price pressures, following significant increases in previous years following the pandemic and the war in Ukraine.

The 3.9% increase in prices for basic products in our country such as milk, cheese and eggs is a consequence of high production and import costs, and the lack of sustainable subsidies for agriculture.

The number of animals on farms has halved in the last decade, reducing supply on the market, while on the other hand, the arrival of tourists has increased demand for dairy products and eggs in certain months, further influencing the increase in prices.

At a time when EU countries are benefiting from the stabilization of markets and the reduction of basic prices, Albania continues to experience growth that directly affects the costs of living, especially for the needy.

With an aging population, a declining rural population, a significant lack of subsidies for agriculture, and inefficient controls in the supply chain, Albania risks continuing the upward price trend in the future./ Monitor Magazine