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Farmgate prices up 5.5% in September

Agricultural producer prices were 5.5% higher in September 2017 than in the corresponding month of the previous year, made up of an increase of 4.0% in prices of crop products and a 7.9% rise in prices of live animals and animal products, shows a first release of monthly data from the Central Statistical Office (KSH).

In September 2017 compared to September 2016, cereal prices went up by 6.8%, within which the price of wheat rose by 13% and that of maize by 4.0%, KSH data show.

Prices of fruit rose by 13%, within which the price of apples increased by 68% and the price of grapes fell by 5.7%.

Vegetable prices became 0.8% dearer, with the price of onions rising 12%, while that of tomatoes fell 1.3%.

The producer price level of live animals rose by 3.4%, and that of animal products by 19%.

Milk prices increased by 30% year-on-year in September, and the price of eggs by 1.3%.

In January–September 2017, compared to the first three quarters of the previous year, agricultural producer prices went up by 3.4%. Within this, the price of crop products fell by 0.9%, while that of live animals and animal products rose by 11%.

Vegetables prices fell by 0.9% in Q1-Q3 2017. The price of tomatoes went up by 3.6% in total, while potatoes became 9.4% cheaper.

The price of pigs for slaughter rose by 17% and milk prices by 26% in the first nine months.

Input prices down slightly in Q1-Q3

Input prices of agricultural production decreased by 0.7% in January–September, which derived from a 1.2% decrease in the price level of intermediate consumption and a 2.5% rise in the price level of agricultural investments.

The largest declines were recorded in prices of fertilizers and animal feed, 9.5% for the former and 5.1% for the latter. Fertilizer prices started to fall again after an increase in the first half of 2017 and reached the price level for the year 2010.

Energy and lubricant prices were up by 6.4%, mainly influenced by a 9.3% rise in motor fuel prices.

Within agricultural investments, the cost of investments in buildings rose by 5.4%, while the cost of investments in machinery and equipment was reduced by 0.2%.

The value of the terms of trade (the agricultural producer price index divided by the agricultural input price index) was 104.1%, according to the KSH.

Agricultural producer price data for October 2017 will be published by the KSH on December 15.