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Q4 producer price index for agricultural products up 15.9%

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Q4 producer price index for aqricultural products up 15.9%During the fourth quarter last year, producer and input price indices for agriculture rose by 15.9 and 6.8 per cent respectively over the corresponding quarter of 2011.

The National Statistics Office said that the producer price index for agricultural products increased by 15.9 per cent, from 120.94 points in the fourth quarter of 2011 to 140.11 points in the period under review.

Underpinning this result was a decrease of 2.2 per cent in prices registered for fresh vegetables mainly due to lower producer prices recorded for onions (-16.9 per cent), lettuce (-12.4 per cent) and mushrooms (-4.6 per cent). On the other hand, the price of potatoes advanced by 72.4 per cent as a result of a sharp drop in supply.

During the period under review, prices for fresh fruit rose by 29.0 per cent, mainly citrus (+22.1 per cent), resulting from a general decrease in the supply of fruit.

During this period, prices for slaughtered animals went up by 12.0 per cent. Higher prices were registered for pigs (+29.0 per cent), bulls (+6.0 per cent) and rabbits (+3.1 per cent). The price for slaughtered poultry declined marginally by 0.7 per cent.

The animal products index registered an increase of 18.2 per cent on account of higher producer prices fetched for raw milk (+15.1 per cent) and eggs (+25.5 per cent).

The annual average producer price index for 2012 stood at 127.53 points, reflecting a growth of 9.0 per cent over 2011. This resulted from an increase in the producer price index of fresh vegetables (+12.8 per cent), animal products (+9.9 per cent) and slaughtered animals (+5.9 per cent).

The input price index for agriculture advanced by 6.8 per cent, from 140.32 points in the fourth quarter of 2011 to 149.90 points in the corresponding quarter of 2012.

The goods and services index, which records running cost movements, went up by 7.4 per cent over the comparative period of 2011. This increase was mainly attributed to higher prices of feeding stuffs (+12.9 per cent) and motor fuels (+4.6 per cent).

The machinery and investment index declined by 0.5 per cent on account of lower prices paid for materials (-1.2 per cent), although the buildings index edged up by 0.2 per cent over the corresponding period last year.

The annual average input price index for 2012 stood at 145.53 points, up by 4.9 per cent over 2011. Underpinning this result were increases of 7.6 and 6.0 per cent in feeding stuffs and motor fuels respectively.

Additionally, the machinery and investment index increased by 1.9 per cent on account of higher prices of materials (+2.7 per cent) and buildings (+1.0 per cent).

Photographs – Alain Salvary.

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