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UK Farming Statistics


18 July 2013

UK May Agricultural Price Index - 18 July 2013UK May Agricultural Price Index - 18 July 2013

The price index for all outputs rose by 1.0 per cent in May and remains 12 per cent higher than the same time last year. The price index for all inputs fell by 1.2 per cent in May but remains 4.6 per cent higher than this time last year.
UK Farming Statistics

The Agricultural Price Index (API) measures the monthly price changes in agricultural outputs and inputs for the UK. The output series reflects the price farmers receive for their products, also referred to as farm gate price. Information is collected for all major crops (for example wheat and potatoes) and on livestock and livestock products (for example sheep, milk and eggs).

The input series reflects the price farmers pay for goods and services. This is split into two groups: goods and services currently consumed; and goods and services contributing to investment. Goods and services currently consumed refer to items that are used up in the production process, for example fertiliser, or seed. Goods and services contributing to investment relate to items that are required but not consumed in the production process, such as tractors or buildings.

Key points

This is the first publication with 2010 as the base year. New weights have been calculated for each of the items based on their 2010 usage. Slight changes to the data series will be seen when compared to 2005 base year price series due to the change in weights.

The most notable changes between the price series for the two base years are found in Industrial crops, Vegetables and horticultural products and Fruit price series.

These changes are due to increases or decreases in the weights associated with a particular crop. For example, the weight attributed to oilseed rape has increased significantly since 2005, due to increased production in that time. Changes to the monthly distribution of weights for crops will also affect the overall price series.

Figure 1: Agricultural price indices (2010=100)

The price index for all outputs rose by 1.0 per cent in May and remains 12 per cent higher than the same time last year. The price index for all inputs fell by 1.2 per cent in May but remains 4.6 per cent higher than this time last year.

Outputs

Potato prices continue to increase due to low supply of last season potatoes and a later than usual start to the harvest of new season potatoes.

The fall in fresh fruit prices of 28 per cent in May was driven by a 32 per cent fall in strawberries. The decline in strawberry price is due to an increase in supply, particularly of class 2 strawberries.

Overall there was little change in vegetable prices but this was not the same story for the individual vegetables. Tomatoes prices fell by 20 per cent in May due to heavy supplies of imported produce although they still remain 6.8 per cent higher than the same time last year. Reduced supplies of lettuce and onions saw their prices increase by 27 and 16 per cent respectively in May.

There was a slight fall of 1.1 per cent in animal and animal produce prices in May with poultry seeing the largest fall of 8.2 per cent. However, animal and animal produce still remain 6.4 per cent higher than the same time last year.

Inputs

Motor fuel fell by 3.5 per cent in May and is 6.9 per cent lower than May last year.

Nitrogen prices down by 14 per cent as demand is low and companies are reducing prices to try and secure sales.

There is little change in the price of animal feeds which remain 16 per cent higher than the same time last year.

July 2013

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