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UK Farming Statistics


21 May 2015

UK Agricultural Price Index - March 2015UK Agricultural Price Index - March 2015


UK Farming Statistics

The Agricultural Price Index (API) measures the monthly price changes in agricultural outputs and inputs for the UK. The output series reflects the price farmers receive for their products, also referred to as farm gate price. Information is collected for all major crops (for example wheat and potatoes) and on livestock and livestock products (for example sheep, milk and eggs).

The input series reflects the price farmers pay for goods and services. This is split into two groups: goods and services currently consumed; and goods and services contributing to investment. Goods and services currently consumed refer to items that are used up in the production process, for example fertiliser, or seed. Goods and services contributing to investment relate to items that are required but not consumed in the production process, such as tractors or buildings.

Key points

  • In March 2015, compared to the previous month, the monthly price index for all outputs fell by 2.4% and the price index for all inputs fell by 0.6%.
  • In general, prices are lower than the same time last year with the price index for all outputs and inputs down 11.9% and 4.9% respectively.

Outputs

In March 2015, compared to last month, the price index for all crop products fell by 0.6%.

The fresh vegetable price index rose 5.4%. Most prices held firm or increased slightly with the sharpest rise being turnips which rose 35% as supplies dwindled. In comparison, cauliflower prices fell by 22% with high volume of imports from France and low demand keeping prices down. The price for cucumbers fell 38% as seasonal supplies increased. Onions and mushroom prices fell slightly as supplies increased.

The downward pressure on pig prices continues however this month’s sow and boar price index rose by 10% compared to February 2015. This is the first increase since August 2014. The overall pig price is currently 18.9% lower than the same month last year. Ample supplies, reduced demand and pressure on prices in the EU have all contributed to the recent lower prices.

The March milk price index fell by 8.1%. When compared to the same month last year the milk price is down 26% and is at its lowest since August 2010. It should be noted that the increase in the average prices paid in February was affected by the inclusion of retrospective payments to some producers.

Inputs

In March 2015, compared to last month, motor fuels rose by 4.1%. This is the first increase since July 2014 and is reflects the steady increase in world oil prices from the beginning of the year. Prices are 20% lower than the same time last year.

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