Agricultural producer price index up by 2.6%

The producer price index for agricultural products in the second quarter of 2011 stood at 114.54 points, up by 2.6% when compared to the corresponding quarter of 2010.

According to the National Statistics Office, (NSO), a drop in the fresh vegetables price index (-13.0%) was essentially the result of a general increase in the supply of fresh vegetables.  Lower prices were registered for cauliflowers (-51.6%), sugar melons (-54.8%) and green beans (-30.3%).  Meanwhile, an increase of 13.6% was registered in the average price of potatoes.

During the second quarter this year, the fruit price index declined by 12.9%.  Lower prices for peaches (-53.8%) and strawberries (-19.4%) were recorded.

The animals slaughtering index increased by 8.6% over the comparative period in 2010, as higher prices were registered for bulls  (+11.0%) and cows (+30.4%).  Furthermore, the animal products index registered an increase of 24.8% on account of higher producer prices fetched for raw milk (+24.0) and eggs (+27.7).

The input price index for agriculture advanced by 13.7 % from 122.11 in the second quarter last year to 138.83 in the corresponding quarter this year.

The goods and services index, which registers movements in running costs, went up by 14.6% over the comparative period last year.  This increase was attributed to higher prices of motor fuels (+24.8%) and animal feeding stuffs (+23.95).

The machinery and investment index rose by 2.6%, reflecting higher prices paid for materials (+2.5%) and  buildings (+2.7%).