Written by Maeve Hennessy from Agriland
Yesterday (Thursday, March 21) The Department for Environment Food and Rural Affairs (DEFRA) published the agriculture price indices (API) from January 2023 – January 2024.
The price index for agricultural outputs decreased by 5.6% in the 12 months to January 2024.
According to the API, there were eight upward contributions to the 12-month inflation rate for agricultural outputs recorded for January 2024.
The largest upward contribution was potatoes (+1.9 percentage points), followed by sheep and lambs (+0.9 percentage points), and cattle and calves (+0.8 percentage points).
There were six downward contributions, of which the largest downward contribution was milk (-5.9 percentage points), followed by wheat (-2.6 percentage points), and oilseed rape (-0.7 percentage points).
Contributions to change in the agricultural outputs index from January 2023 to January 2024 Source: DEFRA
The price index for agricultural outputs increased by 0.6% in the month to January 2024. In comparison, the index increased by 0.6% in the month to December 2023.
From January 2023 to January 2024, the price index for agricultural inputs decreased by 11.3%.
There were six upward contributions, the largest being from maintenance of materials (+0.4 percentage points), followed by plant protection products (+0.2 percentage points), and buildings (+0.1 percentage points).
The largest downward contribution was fertilisers and soil improvers (-5.8 percentage points), followed by compound feedingstuffs (-3.8 percentage points), and energy and lubricants (-1.6 percentage points).
The price index for agricultural inputs increased by 0.9% in the month to January 2024. In comparison, the index decreased by 0.4% in the month to December 2023.
In 2024 so far, the annual average price index decreased by 0.5% for agricultural outputs and decreased by 3.5% for agricultural inputs.
The year with the largest difference between the agricultural outputs and agricultural inputs was 2022, with 2019 showing the second largest difference.
The post Milk output decreased by 5.9% in 2023 – DEFRA appeared first on Agriland.co.uk.
Continue reading on the Agriland Website...
The price index for agricultural outputs decreased by 5.6% in the 12 months to January 2024.
According to the API, there were eight upward contributions to the 12-month inflation rate for agricultural outputs recorded for January 2024.
The largest upward contribution was potatoes (+1.9 percentage points), followed by sheep and lambs (+0.9 percentage points), and cattle and calves (+0.8 percentage points).
There were six downward contributions, of which the largest downward contribution was milk (-5.9 percentage points), followed by wheat (-2.6 percentage points), and oilseed rape (-0.7 percentage points).
Contributions to change in the agricultural outputs index from January 2023 to January 2024 Source: DEFRA
The price index for agricultural outputs increased by 0.6% in the month to January 2024. In comparison, the index increased by 0.6% in the month to December 2023.
From January 2023 to January 2024, the price index for agricultural inputs decreased by 11.3%.
There were six upward contributions, the largest being from maintenance of materials (+0.4 percentage points), followed by plant protection products (+0.2 percentage points), and buildings (+0.1 percentage points).
The largest downward contribution was fertilisers and soil improvers (-5.8 percentage points), followed by compound feedingstuffs (-3.8 percentage points), and energy and lubricants (-1.6 percentage points).
The price index for agricultural inputs increased by 0.9% in the month to January 2024. In comparison, the index decreased by 0.4% in the month to December 2023.
In 2024 so far, the annual average price index decreased by 0.5% for agricultural outputs and decreased by 3.5% for agricultural inputs.
The year with the largest difference between the agricultural outputs and agricultural inputs was 2022, with 2019 showing the second largest difference.
Related Stories:
-
GDT price index falls 2.8% after latest auction
-
NI farm walks on ‘efficient and sustainable milk production’
-
Walnutlawn Sidekick daughter claims top prize at UK Dairy Expo
The post Milk output decreased by 5.9% in 2023 – DEFRA appeared first on Agriland.co.uk.
Continue reading on the Agriland Website...