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UK Total Income from Farming


14 June 2013

UK April Agricultural Price Index - 14 June 2013UK April Agricultural Price Index - 14 June 2013

The price index for all outputs fell by 2.9 per cent in April but is still 12 per cent higher than the same time last year. The price index for all inputs rose by 0.1 per cent in April and is 9 per cent higher than this time last year.
Total Income from Farming in the UK

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 (2005=100)

The price index for all outputs fell by 2.9 per cent in April but is still 12 per cent higher than the same time last year. The price index for all inputs rose by 0.1 per cent in April and is 9 per cent higher than this time last year.

Outputs

The crop product index rose by 4.8 per cent in April and is 22 per cent higher than this time last year.

Cereal prices are currently 21 per cent higher than this time last year with all cereal categories showing significant annual price rises with the exception of milling oats where prices fell by 3.5 per cent, cereal prices remain high reflecting the wet 2012 harvest.

Potato price rises have slowed and have only risen 1.0 per cent in April but they still remain 107 per cent above this time last year.

Chart 2 Fresh Vegetable Price Index (2005 = 100)

Fresh vegetables fell 1.4 per cent in April but still remain 25 per cent above this time last year. Cauliflowers, tomatoes and lettuce have all shown significant price drops which have been off set by price rises for cabbages; carrots and onions.

Fresh fruit fell by 6 per cent in April but still remain 45 per cent above this time last year.

Chart 3 Fresh Fruit Price Index (2005 =100)

Animal and animal product prices rose by 0.9 per cent this month and are now 6 per cent higher than the same time last year. Animals for slaughter rose by 0.8 per cent in April, calf prices have risen 22 per cent in April but prices still remain 28 per cent below this time last year.

Inputs

There has been very little movement in prices for inputs in April with the overall index for inputs rising by 0.1 per cent. Compared to last year all goods and services currently consumed in agriculture are up 10 per cent. The main contributors to the upward trend are seeds that are up 56 per cent and animal feeding stuff up 14 per cent.

June 2013

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