Construction Industry Secures Collective Agreement Until 2027

In a significant development for the Cypriot construction industry, the collective agreement has been renewed until the end of 2027. The renewal follows the acceptance of a mediatory proposal by the social partners in the sector, including PEO, SEK, DEOK, and OSEOK. The Minister of Labour and Social Insurance, Yiannis Panagiotou, highlighted the agreement as a collective triumph of tripartite social cooperation, serving the public interest and benefiting all parties involved.

The agreement emerged from a proposal submitted by the Minister on 19 July, marking a successful negotiation process between trade unions and employers’ associations. Panagiotou emphasised that the agreement ensures labour peace within the construction industry, a critical factor for the sector’s growth and the stability of the Cypriot economy, especially in a volatile global environment.

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Key aspects of the agreement include the restoration of wage reductions from the past decade and the introduction of planned salary increases and benefits over the coming years. Additionally, specific actions are outlined to enhance wage convergence and tackle illegal and undeclared work effectively.

The Minister expressed gratitude to the leadership of the trade unions and employer organisations for their constructive collaboration, which is essential for implementing the agreement’s provisions. This cooperation is expected to improve labour relations and enhance the operational framework of the construction industry concerning labour issues.

The formal signing of the agreement is scheduled for 31 July 2024 at the Ministry of Labour and Social Insurance. This agreement marks a critical milestone in maintaining a stable and prosperous working environment in Cyprus’ construction sector, setting a precedent for other industries.

This renewal is anticipated to positively impact the construction industry, contributing to the broader economic stability and development of Cyprus. By ensuring fair wages and working conditions, the agreement aims to foster a productive and harmonious industrial environment, crucial for the island nation’s economic trajectory.

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EU Farm Output Prices Decline For The First Time In Nine Months

by THEFUTURE.TEAM

March 12, 2026

EU Market Adjustments Signal New Price Trends

Agricultural output prices across the European Union declined in the fourth quarter of 2025, marking a shift after several quarters of increases. Data from Eurostat shows that farm gate prices fell by 1.9% compared with the same period in 2024.

Crisis of Declining Prices In Select Markets

Cyprus recorded one of the more notable decreases in agricultural input costs among EU member states, with prices falling by 2.6% compared with Q4 2024. The reduction eased cost pressures for the local agricultural sector following periods of higher prices earlier in 2025. Across the EU, prices for goods and services consumed in agriculture remained relatively stable. Non-investment inputs such as energy, fertilisers and feedingstuffs showed limited overall changes during the quarter.

Country-Specific Divergence In Price Movements

Eurostat data highlights considerable variation across member states. Fifteen EU countries recorded declines in agricultural output prices. Belgium registered the largest decrease at 12.9%, followed by Lithuania (8.2%) and Germany (6.0%). At the same time, twelve countries reported increases in output prices. Ireland recorded the strongest rise at 6.8%, followed by Slovenia (5.6%) and Malta (4.2%).

Stability In Agricultural Inputs Amid Commodity Shifts

Agricultural input prices also showed mixed developments. Eleven member states recorded declines, including Cyprus (2.6%), Belgium (2.1%) and Sweden (2.0%). Other countries experienced moderate increases, including Lithuania (4.2%), Ireland (3.3%) and Romania (2.5%). Among major agricultural commodities, milk prices declined by 4.1% while cereal prices fell by 8.9% across the EU. In contrast, fertilisers and soil improvers increased by 7.9%, reflecting continued volatility in input markets.

Outlook For EU Agriculture

The latest Eurostat data points to uneven price developments across the EU agricultural sector. While input prices remained broadly stable in many markets, movements in output prices varied significantly between member states. These trends highlight the need for farmers and policymakers to adapt to shifting commodity prices and changing cost structures across the European agricultural market.

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