The Ministry of Agriculture's rural economy service found that after two years of crisis in 2015 and 2016, the agricultural sector appears to be stabilising once more.
The 2018 ordinary result had increased by 3% compared to the previous year, continuing the positive trend from 2017. The ordinary result currently stands at more than €62,000 per farm, while in 2017, it was a little over €60,000. The results are due to a favourable market situation and good prices for agricultural products, particularly in the dairy industry, said Minister of Agriculture Romain Schneider.However, it is not all good news. Farmers struggled to obtain good prices for pork or beef in 2018, recording a drop of 67%. The difficulties began in 2017, with low prices continuing throughout 2018, but the market picked up once more at the start of 2019.
Of course, the numbers represent averages, and some parts of the sector are still experiencing issues with growth. However, the positive tendencies of the last two years should be repeated again this year, said Schneider.
The Ministry's report analysed 618 businesses, around 40% of all agricultural companies in the country. The agricultural sector covers 53% of Luxembourg's surface.
