For the third quarter in a row, farming activity decreased. In the 2nd quarter of 2024 the agriculture confidence index (IRGAGR) dropped by 0.5 pts to 24.5 pts. It is, however, 1.8 pts up from the figure recorded in the respective quarter, 2023. The decrease is due to a slump in farmers’ sentiments. Their incomes slightly increased, but it didn’t improve their financial standing. Their savings are on the decline, and their indebtedness continued to rise. In the result farmers lowered expenses on feed concentrates, plant protection products and investments in agricultural machines and equipment. No optimism is a reasonable expectation for what is about to come in the third quarter.
Researches
Konrad Walczyk, kwalcz1@sgh.waw.pl
Piotr Szajner, irg@sgh.waw.pl