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Farmgate prices up 2.5% in March

Agricultural producer prices were up by 2.5% in March 2018 compared to March 2017, made up of increases of 2.6% in the price of crop products and 2.2% in prices of live animals and animal products. In January–March 2018, agricultural input prices were 2.0% higher than a year earlier.

In March 2018 compared to March 2017, grain prices were up 10%, according to data from the Central Statistical Office (KSH). The price of vegetables fell 7.4%, within which potatoes were 19% cheaper.

The producer price level of live animals was practically unchanged, while that of animal products was 6.2% higher.

The price of pigs for slaughter fell by 3.2%; after a low point in procurement in January (HUF 342 per kilo), the price was HUF 376 per kilo in March.

Milk prices were 3.2% and egg prices 17% higher year-on-year.

In January–March 2018 compared to the first quarter of 2017, agricultural producer prices rose by 1.3%, within which the price of crop products increased by 0.9% and that of live animals and animal products by 1.9%.

Input prices of agricultural production were 2.0% higher in the first quarter of 2018, which derived from a 1.2% increase in the price level of intermediate consumption and a 6.5% rise in the price level of agricultural investments. Animal feed prices increased by 2.4%, while fertilizer prices were 1.6% higher.

The terms of trade (the agricultural producer price index divided by the agricultural input price index) deteriorated by 0.7%.

Agricultural producer prices for April will be published on June 13.