Farmgate prices rise 5.6% in 2017
Agricultural producer prices were 5.1% higher in December 2017 than in the corresponding month of 2016, made up of increases of 6.0% in prices of crop products and 3.8% in prices of live animals and animal products. In 2017 as a whole, farmgate prices were 5.6% higher than a year earlier, a first release of data from the Central Statistical Office (KSH) shows.
In December 2017 compared to December 2016, cereal prices increased by 9.2%, within which the price of wheat rose 6.9% and that of maize was 9.9% higher. The average price of fruit rose 21%, within which apples became 26% and grapes 12% dearer.
The producer price level of live animals decreased by 2.3% in December. The price of poultry for slaughter went up by 2.7%, while that of pigs for slaughter was 7.2% lower.
The price of animal products rose by 17%. Milk prices were up by 15% and eggs prices by 33% year-on-year in December.
In the full year January–December 2017, compared to 2016, agricultural producer prices rose by 5.6%, within which the price of crop products increased 3.3% and that of live animals and animal products was 9.3% higher.
The price of cereals rose by 4.9% in 2017. Vegetable prices fell by 0.3%, within which potato prices fell by 7.5%, while the price of fruit increased by 20% in total.
The price of pigs for slaughter went up by 11%, and that of poultry for slaughter by 1.8% in 2017. Milk prices rose by 24%.
Input prices stay level
The input prices of agricultural production were a marginal 0.1% higher in 2017, which resulted from a 0.4% decrease in the price level of intermediate consumption and a 3.0% rise in the price level of agricultural investments.
The largest declines were recorded in fertilizers and animal feed prices, down 6.6% in the former and 3.2% in the latter case. Fertilizer prices in the third quarter of 2017 were the lowest over the past six years; however, they started to increase by the end of the year, and were 6.8% higher in Q4 than in the previous quarter.
The price of plant protection products rose slightly in 2017, being 0.4% higher than in the previous year.
Energy and lubricant prices were up by 5.7%, mainly influenced by an 8.1% rise in motor fuel prices. Maintenance costs of buildings and machinery increased by 5.5% and 2.6%, respectively, and veterinary medicinal products were 1.9% more expensive in 2017.
The value of the terms of trade (the agricultural producer price index divided by the agricultural input price index) was 105.5%.
The KSH will publish agricultural producer prices for January 2018 on March 13.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.