Farm gate prices in Hungary increased 0.2% yr/yr in February. Crop prices rose 2.0% and livestock and animal product prices fell 2.8%, the Central Statistics Office (KSH) reported on Monday.
Prices started to grow in January with a 1.7% yr/yr plus after 16 months of decline. The January figure was revised down on Monday from the preliminary 3.6%. Crop prices rose 4.4% yr/yr in January instead of the preliminary 7.5% while livestock and animal product prices fell an unchanged 2.3%.
The increases were still from a low base, as farm gate prices fell 27.1% yr/yr in February 2009 after a decline of 27.9% yr/yr in January 2009.
Farm gate prices dropped yr/yr every month between August 2008 and December 2009. The drop slowed to 1.6% yr/yr in December.
Crop prices rose now for the third month in a row with potato and vegetables gaining the most, 11.7% and 7.0% respectively, while prices of oil seeds decreased 2.8%. Cereals cost 1.0% more than in February 2009.
The overall increases came after a 1.6% twelve-month increase in December, the first twelve-month increase posted since July 2008.
Wholesalers bought wheat from farms for HUF 29.30/kg on average after HUF 29.00/kg in January, and maize for HUF 29.60/kg after HUF 29.70/kg in January.
Livestock and animal product prices has declined steadily yr/yr starting January 2009. The twelve-month decline accelerated somewhat from January.
Farm gate prices fell 9.5% in 2009 as crop prices fell 12.7% and livestock and animal product prices fell 4.6% on 2008. (MTI-ECONEWS)