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Austrian Agriculture and Forestry 2022 Exceptionally Successful Despite Difficult Environment

Author

Listed:
  • Katharina Falkner

    (WIFO)

  • Franz Sinabell

Abstract

In 2021, there had been signs of an increase in agricultural prices due to the international economic upturn. Following the invasion of Ukraine by the Russian Federation, there was great uncertainty on all markets for internationally traded goods. This cause a sharp surge of prices. Agricultural goods, which were exported by Ukraine on a large scale, were affected first, then almost all other goods. The rise in prices led to high increases in the production value of Austrian agriculture in 2022, although the volume produced hardly increased. Despite the significantly more expensive production, revenues clearly outweighed costs, allowing a strong increase in income. The situation was similar in forestry. However, the favorable situation in the agricultural commodities market belies the challenges facing agriculture. According to scenario analyses, fundamental changes such as a reduction in cattle numbers are needed to reduce greenhouse gas emissions. This would be accompanied by a significant reduction in agricultural output.

Suggested Citation

  • Katharina Falkner & Franz Sinabell, 2023. "Austrian Agriculture and Forestry 2022 Exceptionally Successful Despite Difficult Environment," WIFO Reports on Austria, WIFO, issue 15, October.
    • Handle: RePEc:wfo:repoau:y:2023:i:15
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    File URL: https://www.wifo.ac.at/wwa/pubid/71177
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    References listed on IDEAS

    as
    1. Franz Sinabell, 2022. "Die österreichische Land- und Forstwirtschaft in einem neuen agrarpolitischen Umfeld," WIFO Monatsberichte (monthly reports), WIFO, vol. 95(9), pages 585-595, September.
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