Higher producer prices for agricultural output

The producer price index for agricultural products increased by one per cent, from 115.5 points in the fourth quarter of 2007 to 116.7 points in the corresponding quarter of 2008, the National Statistics Office said.

It said that underpinning this result was a decrease of 3.9 percent in the fresh vegetables price index, resulting from an increase in the supply of fresh vegetables in the fourth quarter.

Consequently, lower prices were fetched for onions (-17.3 percent), cabbage (-65.8 percent) and globe artichokes (-61.3 percent). The price of potatoes registered a drop of 36 percent over the comparative quarter as a result of a sharp increase in the supply of this crop.

During the period under review, fruit prices declined by 9.6 percent to stand at 118.2 points. This decline was primarily due to an increase in citrus fruit production which resulted in prices falling by 4.8 percent over the comparative period in 2007.

Animal prices, on average, rose by 6.7 percent over the comparative period in 2007, as higher prices were registered for slaughtered pigs (+13.7 percent), poultry (+12.2 percent) and rabbits (+2.5 percent).

On the other hand, prices fetched for slaughtered bulls and cows declined by 8.2 and 12 percent respectively. The animal products index rose by 13 percent on account of a higher producer price of raw milk (+18.2 percent), while egg prices edged down by 1.5 percent.

The annual average producer price index for 2008 stood at 111.7 points, up by 3.9 percent over 2007. This resulted from an increase in the producer price index of fresh vegetables (+nine percent), slaughtered animals (+1.6 percent) and animal products (+19.4 percent).

On the other hand, the producer price index of fruits and potatoes declined by 1.7 and 33.5 percent respectively.

The input price index for agriculture registered an increase of 9.8 percent to stand at 129.3 points, mainly on account of higher running costs incurred by agricultural holdings.

The goods and services index increased by 10.5 percent over the comparative period on account of higher prices paid for maintenance of materials (+12.6 percent), motor fuels (+17.9 percent) and animal feeding stuffs (+6.3 percent) on the market.

The machinery and investment index rose by 1.4 percent on account of higher prices paid for materials (+0.2 percent) and buildings (+2.7 percent).

The annual average input price index for 2008 stood at 129.2 points, up by 18.8 percent on 2007, mainly due to higher prices paid for animal feeding stuffs (+28.8 percent) and motor fuels (+18.3 percent). On the other hand, the machinery and investment index decreased by 1.6 percent on account of a 4.9 percent decline in investment material prices.