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UK Farming Statistics


21 April 2014

UK February Agricultural Price Index - 17 April 2014UK February Agricultural Price Index - 17 April 2014

The price index for all outputs fell by 0.1% in February and is now 7.1% lower than the same time last year. The price index for all inputs rose by 0.8% in February and is now 4.3% lower 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

The price index for all outputs fell by 0.1% in February and is now 7.1% lower than the same time last year. The price index for all inputs rose by 0.8% in February and is now 4.3% lower than this time last year.

Output

Sheep and lamb prices rose 5.0% in February and are 20% higher than the same time last year. Price increases are being attributed to better demand at home and abroad and the weaker pound making exports more competitive on the continent.

Fresh fruit prices fell by 2.2% in February and are 27% lower than the same time last year when prices were high due to short supplies following last year’s poor harvest.

Fresh vegetable prices fell by 5.3% and are 8% lower than the same time last year; with cabbages; lettuce and carrots all showing a significant fall in price compared to this time last year. Cauliflowers were the exception with a 32% increase in price during February. This was due to limited supplies at the start of the month which saw prices significantly increase although prices fell away as supply increased towards the end of the month.

Inputs

Fertiliser prices rose by 2.4% in February although prices are still 7% lower than the same time last year. Both straight phosphate and potash prices are recovering after the low prices seen at the end of 2013. There is also an increase in straight nitrogen prices on the back of strong urea prices.

There was a 7.3% increase in materials due to the price index for machinery and other equipment rising by 17%. The increase follows a price review of the Producer Price Index.

April 2014

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