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UK Farming Statistics


18 July 2014

UK May Agricultural Price Index - 17 July 2014UK May Agricultural Price Index - 17 July 2014

The price index for all outputs fell by 0.8% while the price index for all inputs fell by 1.4% in May.
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

The price index for all outputs fell by 0.8% while the price index for all inputs fell by 1.4% in May. Overall the prices are lower than the same time last year as the price index for all outputs is 8.3% lower and the price index for all inputs is 3.4% lower than this time last year.

Output

Compared to last year all price indices for crops are down. The largest difference is seen with the following crops whose prices are significantly lower than last year: potatoes (46%); fresh fruit (27%); cereals (18%) and fresh vegetables (18%). This is an indication of the supplies have bounced back this year after the fall seen last year due to the bad weather.

This year’s early potato season began several weeks earlier than last year and prices are showing the dip in price that would be expected once the season is under way. As last season’s new potato harvest started later in the month the average May price last year was 60% higher than this year’s average May price.

Cereal prices are 18% lower than this time last year. With fears of major to disruption to Ukrainian exports not borne out; encouraging planting conditions in the EU and improved weather conditions in the US, cereal prices continue to remain low.

Cattle prices fell 3.7% in May and are 16% lower than this time last year reflecting the continued imbalance in supply and demand, continued mild weather is not stimulating demand for roasting cuts of beef.

Inputs

Energy and lubricant prices fell for the fourth month running. Prices fell by 0.3% in May and are now 1.0% lower than this time last year.

Animal feeding stuffs fell by 1.9% and are now 31% lower than the same time last year; straight feeding stuffs fell by 3.9% in May while compound feedingstuff prices fell by 0.8%. Straight feedingstuff prices have fallen due to decreases cereal prices.

Fertiliser prices fell by 2.9% in May and are still 9.1% lower than the same time last year. Prices remain low as new season prices are due to be announced.

July 2014

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