Agricultural producer prices up by 2%

During the fourth quarter last year, producer and input price indices for agriculture rose by 2.0 and 7.0 per cent respectively over the corresponding quarter of 2010.

The producer price index for agricultural products increased by 2.0 per cent, from 118.52 points in the fourth quarter of 2010 to 120.87 points in the quarter under review.

Underpinning this result was an increase in the price of fresh vegetables ( 5.2 per cent), due to higher prices fetched for onions ( 124.0 per cent), cauliflowers ( 23.8 per cent) and vegetable marrows ( 0.4 per cent). On the other hand, the price of potatoes dropped by 19.5 per cent over the comparative quarter as a result of an increase in supply.

During the period under review, a decrease of 11.4 per cent was registered in the fruit price index, resulting from a general increase in the supply of fruit. Lower producer prices were recorded mainly for citrus fruit (-3.7 per cent), strawberries (-57.9 per cent) and pomegranates (-38.0 per cent).

During this period, the slaughtered animals price index rose by 2.0 per cent. Higher prices were registered for cows ( 16.1 per cent), bulls ( 12.4 per cent) and poultry ( 5.0 per cent). The price for slaughtered rabbits declined marginally by 0.1 per cent. The animal products index registered an increase of 9.0 per cent on account of higher producer prices fetched for raw milk ( 4.2 per cent) and eggs ( 21.6 per cent).

The annual average producer price index for 2011 stood at 116.41 points, reflecting a growth of 2.0 per cent over 2010. This resulted from an increase in the producer price index of animal products ( 12.8 per cent) and slaughtered animals ( 2.4 per cent). On the other hand, drops of 4.7 and 12.5 per cent were recorded in the producer price indices of fresh vegetables and fruit.

Input Price Index

The input price index for agriculture advanced by 7.0 per cent, from 130.63 points in the fourth quarter of 2010 to 139.81 points in the comparable quarter of 2011.

The goods and services index, which records running cost movements, went up by 7.2 per cent over the comparative period of 2010. This increase was mainly attributed to higher prices of feeding stuffs ( 10.2 per cent) and motor fuels ( 17.2 per cent). The machinery and investment index rose by 5.4 per cent on account of higher prices paid for materials ( 7.0 per cent) and buildings ( 3.7 per cent).

The annual average input price index for 2011 stood at 138.40 points, up by 11.4 per cent over 2010.

Underpinning this result were increases of 19.5 and 22.0 per cent in feeding stuffs and motor fuels respectively. Additionally, the machinery and investment index increased by 3.1 per cent on account of higher prices of materials ( 3.3 per cent) and buildings ( 2.9 per cent).