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Olive oil, milk and cereals: How did food prices fluctuate in 2024?

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Olive oil, milk and cereals: How did food prices fluctuate in 2024?

After food prices soared in 2021 and 2022, over five essential food products saw price drops in 2024, including milk and cereals.

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In 2024, agricultural prices in the European Union saw a modest decline, falling by 2% compared to 2023.

This price decline followed sharp increases in 2021 and 2022 that occurred due to the COVID-19 pandemic, extreme weather conditions and Russia’s invasion of Ukraine.

Despite a surge in olive oil prices in 2024, the prices of cereals dropped by 15%, eggs by 8%, and vegetables and horticultural products declined by 2%.

The price of pigs and poultry also shrank by 7% and 8%, respectively.

According to Eurostat figures, milk prices decreased in 16 EU countries in 2024.

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The sharpest decline was recorded in Finland with a 12% drop in prices, followed by Portugal with 10% and Spain with 8%.

By contrast, the sharpest increase was in Ireland with a 15% rise in prices, followed by Lithuania with 11% and Latvia with 10%.

In terms of production, the cost of seeds and veterinary services rose by 3%.  

However, prices for fertilisers and soil improvers plummeted by 18%, food for animals by 11%, and plant protection products and pesticides by 2%. 

Commission measures between farmers and buyers

After a year in which farmers have protested regularly, the EU Commission has presented an initiative to ensure they receive fair compensation and are no longer forced to sell products below production costs.

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The proposed measures include mandatory written contracts that require buyers to clearly outline key terms such as price, quantity, and delivery timelines, taking into account market conditions and cost fluctuations.

The package also introduces a regulation to enhance enforcement of the Unfair Trading Practices (UTPs) Directive, which was adopted five years ago but remains largely unimplemented.

Video editor • Mert Can Yilmaz

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China's CATL launches EV chassis, flagging safety as top selling point

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China's CATL launches EV chassis, flagging safety as top selling point
China’s CATL , the world’s largest electric vehicle battery maker, on Tuesday launched a new EV chassis that it says can withstand a 120-kph (75-mph) frontal impact without catching fire or exploding, as it touts safety as a key selling point.
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SEE IT: China stuns with maiden flight of sixth-generation aircraft

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SEE IT: China stuns with maiden flight of sixth-generation aircraft

China appears to have conducted the maiden flight of its new sixth-generation fighter aircraft, marking a significant milestone in the ever-evolving landscape of fighter jets.

Video and photos from social media showed the previously unseen aircraft conducting a daytime test flight, alongside a two-seat Chengdu J-20S fighter, which served as a chase plane.

The planes were soaring high in Chengdu, Sichuan, China on Dec. 26, which is notably the birthday of the founding father of the People’s Republic of China, Mao Zedong.

CHINA UNVEILS WORLD’S LARGEST AMPHIBIOUS WARSHIP

Chinese military aircraft fly in Chengdu, Sichuan, China, in this screengrab taken from a social media video released on December 26, 2024.  (Social Media/via REUTERS)

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Photos and video of the tailless Chinese aircraft came as the U.S. continues to work on developing its Next Generation Air Dominance (NGAD) fighter jet.

The NGAD fighter jet is intended to replace the F-22 Raptor, a fifth-generation stealth combat aircraft that has been in service with the U.S. Air Force since the early 2000s.

CHINA WARNS US TO STOP ARMING TAIWAN AFTER BIDEN APPROVES $571M IN MILITARY AID

Fifth generation aircraft incorporated stealth technology, with the sixth generation aircraft promising further advancements.

Chinese military aircraft fly in Chengdu, Sichuan, China

Chinese military aircraft fly in Chengdu, Sichuan, China, in this screengrab taken from a social media video released on December 26, 2024.  (Social Media/via REUTERS)

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This new aircraft is the latest in a series of milestones for China’s aviation. At the Zhuhai Airshow, China unveiled the J-35A fifth-generation fighter jet and the J-15T fighter. 

Fox News Digital has reached out to China’s Ministry of Defense for comment.

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One in six children live in conflict zones this year: UNICEF

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One in six children live in conflict zones this year: UNICEF

About 473 million, or more than one in six children, are estimated to live in conflict areas worldwide, according to the United Nations children’s agency.

UNICEF’s statement came on Saturday as conflicts continue to rage around the world, including in Gaza, Sudan and Ukraine, among other places.

In Israel’s devastating war on Gaza in particular, at least 17,492 children have reportedly been killed in nearly 15 months of conflict that has reduced much of the enclave to rubble.

“By almost every measure, 2024 has been one of the worst years on record for children in conflict in UNICEF’s history – both in terms of the number of children affected and the level of impact on their lives,” said UNICEF Executive Director Catherine Russell.

According to Russell, a child growing up in a conflict zone is far more likely to be out of school, malnourished, or forced from their home compared with a child living in places with no conflict.

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“This must not be the new normal. We cannot allow a generation of children to become collateral damage to the world’s unchecked wars,” the director said.

 

The proportion of children living in areas of conflict has doubled – from about 10 percent in the 1990s to almost 19 percent today, UNICEF said.

According to the report, 47.2 million children were displaced due to conflict and violence by the end of 2023.

The trends for 2024 indicate a further increase in displacement because various conflicts have intensified, including in Haiti, Lebanon, Myanmar, the Palestinian territories and Sudan.

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Additionally, in the latest available data, from 2023, the UN verified a record 32,990 grave violations against 22,557 children – the highest number since UN Security Council-mandated monitoring began, UNICEF said.

There is an overall upward trend in the number of grave violations, with this year likely to see another increase, as “thousands of children have been killed and injured in Gaza, and in Ukraine”, the agency said.

Sexual violence against children has surged, their education has been affected, children’s malnutrition rates have risen and armed conflicts have taken a larger toll on children’s mental health, UNICEF also reported.

“The world is failing these children. As we look towards 2025, we must do more to turn the tide and save and improve the lives of children,” Russell said.

Gaza’s children ‘cold, sick, traumatised’

In Gaza – where the Israeli military has killed more women and children in the past year than in any recent conflict over a single year, Oxfam reported in September – the ongoing war is a “nightmare” for children, UNICEF Communication Specialist Rosalia Bollen said last week at a media briefing.

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“Children in Gaza are cold, sick and traumatised,” Bollen said last Friday.

About 96 percent of women and children in Gaza cannot meet their basic nutritional needs, she said, lamenting the lack of aid able to reach children in the Strip.

“Gaza must be one of the most heartbreaking places on Earth for humanitarians. Every small effort to save a child’s life is undone by fierce devastation,” said Bollen.

“For over 14 months, children have been at the sharp edge of this nightmare.”

Bollen said that many children in the besieged enclave don’t have winter clothes, have to resort to searching through rubbish for provisions and are plagued with diseases.

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She urged the use of political capital and diplomatic leverage to push for the evacuation of injured children and their parents to leave Gaza and seek medical care in East Jerusalem or elsewhere.

“This war should haunt every one of us. Gaza’s children cannot wait,” she pressed.

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