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UK Farming Statistics


17 October 2013

UK August Agricultural Price Index - 17 October 2013UK August Agricultural Price Index - 17 October 2013

The price index for all outputs fell by 2.5 per cent in August and remains 0.6 per cent higher than the same time last year. The price index for all inputs fell by 0.5 per cent in August but remains 1.0 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

Figure 1: Agricultural price indices (2010=100)

The price index for all outputs fell by 2.5 per cent in August and remains 0.6 per cent higher than the same time last year. The price index for all inputs fell by 0.5 per cent in August but remains 1.0 per cent higher than this time last year.

Outputs



Cereal prices continue to fall after the high prices seen last year. In August they fell by 9.7 per cent in August and are now 13 per cent lower than this time last year.

Oilseed rape fell by 8.0 per cent in August and is 15 per cent lower than this time last year, although the UK harvest may be down on last year, global supply is pushing prices down.

The new season crop of potatoes with increased supplies has seen prices fall after the high prices seen last year. Prices are now 8.8 per cent lower than this time last year.

Vegetable prices fell 5.1 per cent in August and are 6.2 per cent lower than this time last year. In August carrot prices fell by 20 per cent; cabbage prices fell by 13 per cent and tomato prices also fell by 13 per cent. Prices are down as supplies have increased while demand has decreased.

Livestock prices fell by 4.0 per cent in August but are still 5.0 per cent higher compared to this time last year. Sheep and lamb prices fell 8.9 per cent in August, as throughputs to the markets increased.

Milk was the main contributor to this rise in animal and animal products, with a 2.2 per cent increase in August. Limitations in the supply of milk persist while competition for milk among processors for use in different products continues to keep prices high. Milk prices are now 20 per cent higher than this time last year.

Inputs

Straight animal feed fell by 7.2 percent in August and 11 per cent in the last three months mirroring the falls seen in cereal and industrial crop prices. The fall in straight animal feed prices led to a fall in the overall animal feeding stuffs of 3.1 percent in August and 5.2 per cent over the last three months. There has been little change in the price of compound feeding stuffs.

Motor fuel prices rose by 2.7 per cent in August and are 2.3 per cent higher than this time last year.

 

 

 

 

 

 

 

October 2013

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