The agricultural input price index decreased by 1% in August 2016 compared with July 2016, while fertiliser index prices fell by 4% over the month and witnessed a 21% reduction compared with August last year, according to the Central Statistics Office.
The index prices for energy, namely electricity and motor fuels, also dropped. However, other inputs such as veterinary expenses, feed stuffs, seeds and plant protection products registered no major change between the two months.
On an annual basis, the agricultural input price index was down 4.7% in August 2016 compared with August 2015.
Meanwhile, the agricultural output price index rose by just 0.4% in August 2016 compared with July 2016. The crop output price index fell by 9.4% compared with July 2016, while the animal output price index increased by 1.7% for the same period.
The agricultural output price index decreased by 4.5% in August 2016 compared with August 2015.
The resulting terms of trade index (output price index expressed as a percentage of the input price index) increased by 1.4% in August 2016.
Methodology
The actual prices used for the index series are based on the market price without the deduction of bonuses, taxes or levies with the exception of deductible value added tax and third party levies. The CSO indices continually monitor trends in prices paid to farmers for their produce and in prices paid by farmers for purchases of goods and services.
SHARING OPTIONS