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Agricultural Price Indices - February 2018

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CSO statistical publication, , 11am

On-line ISSN: 2009-5163
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Overview

This publication introduces the new series of agricultural output and input price indices with the base year 2015 as 100. The rebasing of both series is in line with EU recommendations to update the base reference periods at regular five year intervals. This new series replaces the existing series to base year 2010 as 100.

Agricultural Price Indices comprise of:

  • The index of producer prices of agricultural products - the Output Price Index.
  • The index of purchase prices of the means of agricultural production - the Input Price Index.

Both indices are compiled on the basis of the average farm concept. This includes both sales to other economic sectors as well as sales/purchases of agricultural output between agricultural units for intermediate consumption purposes, excluding trade in animals between agricultural units.

Agricultural Output Weighting Scheme

In order to compile output and input price indices, lower level indices are weighted together to create higher level indices. This weighting scheme is calculated using a 3 year average from 2014-2016 to counteract any abnormalities which might have occurred in agricultural production in a given year.

In terms of the output weighting scheme, there were only small changes in every category. Cattle and milk still dominate the output weighting scheme with a combined weight of 72.16%. One major change was the addition of fruit into the index creating a new sub-index called "Fruit and Vegetables" replacing the old "Vegetable" sub-index.

Further details on Output Price Indices can be found here: Output Price Indices

X-axis label%
2015 Outputs Base Year Weights %
Cattle38.05
Pigs8.27
Milk34.11
Other Animal
Outputs
7.98
Crop Output11.59
X-axis label%
2015 Outputs Base Year Weights %
Cattle38.47
Pigs7.93
Milk34.11
Other Animal
Outputs
7.96
Crop Output11.53
Show Table: Table 1.1: Output Price Index - 2015 Base Year Value - Percentage Weights

Agricultural Input Weighting Scheme

The largest increase in the 2015 input weighting scheme when compared to 2010 was "Compound Feeding Stuffs" which now contributes to 34.60% of the weighting scheme compared to 32.12% in 2010.

Further details on Input Price Indices can be found here: Input Price Indices

X-axis label%
2015 Inputs Base Year Weights %
Seeds and Planting Stock1.89
Energy11.29
Fertilisers
and Soil
Improvers
15.03
Plant
Protection
Products
1.95
Veterinary
Expenses
7.71
Animal Feeding Stuffs36.37
Other Inputs25.76
X-axis label%
2015 Inputs Base Year Weights %
Seeds and Planting Stock2.09
Energy12.6
Fertilisers
and Soil
Improvers
14.06
Plant
Protection
Products
1.60
Veterinary
Expenses
7.69
Animal Feeding Stuffs35.57
Other Inputs26.40
Show Table: Table 1.2: Input Price Index - 2015 Base Year Value - Percentage Weights

Legal Basis

The Agricultural Price Indices are compiled on the basis of a voluntary agreement between Eurostat1 and Member States. The agricultural price indices are required for the compilation of the Economic Accounts for Agriculture which are compiled in compliance with Council Regulation (EC) No 138/2004.

1 Eurostat is the Statistical Office of the European Union.

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