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UK Farming Statistics


15 May 2014

UK March Agricultural Price Index - 15 May 2014UK March Agricultural Price Index - 15 May 2014

The price index for all outputs rose by 0.6% while the price index for all inputs remained unchanged in March.
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 rose by 0.6% while the price index for all inputs remained unchanged in March. Overall the prices are lower than the same time last year as the price index for all outputs is 6.9% lower and the price index for all inputs is 4.5% lower than this time last year.

Output

Compared to last year all price indices for crops are down primarily due to the shortage of supply at this time last year due to the poor harvest in 2012. The largest difference is seen with the following crops whose prices are significantly lower than last year: potatoes (38%); fresh fruit (23%); oilseed rape (22%); and cereals (22%).

There was a strong demand for high quality top fruit led to fresh fruit prices increasing by 7.7% in March.

The political unrest in the Crimea led to slight increase of 1.2% for cereal prices in March as there were concerns over the future supply of cereals.

As supplies tighten and global demand increases for oilseed rape prices rose by 2.3% in March.

Sheep and lamb prices rose 9.3% in March as tight supplies continue to push prices up. Production of home grown mutton and lamb is 1.8% lower than this time last year. Prices are 8.7% higher than the same time last year.

Inputs

Energy and lubricant prices fell for the second month running. Prices fell by 2.5% in March and are now 4.0% lower than this time last year.

Animal feedingstuffs rose by 0.5% although prices are still 12% lower than the same time last year; straight feedingstuffs rose by 2.0% in March while compound feedingstuff prices remained unchanged. Straight feedingstuff prices have risen due to increased cereal prices.

Fertiliser prices rose by 0.4% in March although prices are still 8.2% lower than the same time last year. Prices remain steady with most of the spring fertiliser market already ordered.

May 2014

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