In October 2015, overall agricultural producer prices rose by 0.5%Indices of agricultural prices - October 2015

In October 2015, overall agricultural producer prices rose by 0.5% compared to the previous month, and by 1.3% over one year.

In October 2015, overall agricultural producer prices rose by 0.5% compared to the previous month, and by 1.3% over one year.

Rally in cereal and oleaginous prices

Cereal prices recovered in October (+5.4%, after –14.7% between July and September), despite an abundant supply confirmed by the new crop in the Northern hemisphere. The market reacted noticeably to the potential consequences that would arise from the drough in Australia and from the floods in the United-States.

cereal – Producer prices of cereals

  • Source: INSEE

Oleaginous prices picked up by 3.4 % in October due to the drop in production of rape, the main oleaginous grain produced in France. Moreover, the palm oil price increase was transmitted to rape, these two products being partially sustituable.

Rebound in the prices of potatoes

Compared to October 2014, potatoe prices increased by more than 60 % yoy. The 2015 crop reached its long-term average whereas the previous one was exceptional. Conversely, industrial bett price fell by almost 20 % yoy, dragged down by the drop in producer price of sugar in France.

Rise in the prices of fresh fruits and vegetables compared to October 2014

Fresh fruits prices increased sharply over 12 months (+18.4%), and noticeably apple price (+27.0%). The low apple prices last year reflected the congestion in the supply in relation with an abundant European crop and the Russian embargo since August 2014. Pears prices went up as well over one year due to a decline in European supply.

vegetable – Producer prices of fresh vegetables

  • Source: SSP (ministry in charge of agriculture)

Fresh vegetables prices increased by more than 13% yoy. The increases in prices of chicory (+22%), lettuce (+45%) and leek (+14%) would come from less significant harvests. Consumers kept turning to tomatoes whose price rose also (+7%).

Near stability in animal prices, sharp decline in egg and milk prices

On a seasonally adjusted basis, prices of animals were almost stable this month (+0.1%), as the rise in calve and poultry prices offset the falls in pig and large cattle prices.

pig – Producer prices of pigs and large cattle

Egg prices slid by 8.8 % after surging the previous month in relation with the slump in American supply affected by an avian flue episode. Milk price plummeted by 16% over one year reflecting the global overproduction combined with the slowndown of the Chinese demand.

Tab1 – Indices of producer prices of agricultural products (IPPAP)

base year: 2010
Indices of producer prices of agricultural products (IPPAP)
Weights Oct. 2015 Variation as % over
a month 3 months a year
raw Seasonally adjusted raw
Agricultural goods output 1000 112.3 +0.5 –0.1 +1.3
excluding fruits and vegetables 900 112.4 +0.6 –1.9 +0.2
Crop output (excluding fruits and vegetables) 505 114.8 +1.3 –2.9 +4.0
Cereals 188 104.9 +5.4 –10.1 +2.2
of which soft wheat 112 100.7 +8.6 –10.1 +2.5
grain maize 41 97.0 +2.5 –8.1 +15.1
Potatoes 26 147.3 /// /// +62.4
Wines 177 129.6 +0.6 +0.5 –0.1
Protected designation of origin 84 134.3 +0.9 +0.9 –1.2
other wines 23 149.4 +0.9 +0.2 +3.4
Oleaginous 49 102.8 +3.4 –1.6 +19.0
Horticultural products 30 110.8 +3.2 +3.8 +4.5
Other crop products 36 90.4 –15.3 –16.4 –14.9
Fruits and vegetables (1) 100 111.1 /// /// +13.1
Fresh vegetables 53 102.9 /// /// +13.3
Fresh fruits 35 122.9 /// /// +18.4
Animal output 395 109.3 –0.3 –0.5 –4.5
Animals 234 114.8 +0.1 +0.1 +2.2
of which large cattle 96 121.0 –0.7 –1.1 +3.3
calves 26 105.3 +4.4 +4.4 –2.3
pigs 54 110.2 –0.4 –0.9 +5.5
sheep 10 119.4 +0.2 +4.3 +0.8
poultry 46 111.9 +0.6 +1.7 –0.6
of which chicken 28 112.1 +0.4 +2.0 –0.5
Milk 147 99.4 0.0 –0.7 –15.9
of which cow milk (2) 137 98.1 0.0 –0.8 –17.0
Eggs 15 121.0 –8.8 –7.2 +7.3
  • (1) Including vegetables for industry.
  • (2)The price for Oct. is not yet known and therefore is estimated by carrying forward the seasonally adjusted price of Sept.
  • Sources: INSEE, SSP (ministry in charge of agriculture)

Purchase prices of means of production dipped slightly in October

base year: 2010
Weights Oct. 2015 Variation as % over
a month 3 months a year
Total input 1000 109.1 –0.1 –0.7 –1.3
Intermediate consumptions 764 109.9 –0.2 –0.8 –1.8
Energy 100 94.5 –0.8 –5.6 –15.9
Seeds 57 109.8 +0.8 +1.1 +1.3
Fertilisers and soil improvers 92 117.2 –0.3 –0.2 +1.3
Plant protection products 78 100.8 0.0 0.0 –0.5
Animal feed 205 116.8 –0.5 –0.7 –0.8
Veterinary expenses 43 115.2 +0.1 +0.9 +2.7
Small equipment and tools 17 109.6 +0.3 0.0 –0.1
Maintenance of materials 67 113.5 +0.1 +0.2 +1.8
Maintenance of buildings 9 107.0 0.0 +0.1 –0.1
Other goods and services 97 101.5 +0.1 0.0 –0.3
Goods and services contributing to investment 236 106.6 0.0 –0.3 +0.5
Material 186 107.3 0.0 –0.2 +0.9
Tractors 79 106.8 –0.2 –0.7 +0.9
Machinery and plant for cultivation 36 109.4 0.0 +0.2 +1.6
Machinery and plant for harvesting 42 107.8 +0.3 +0.4 +1.2
Utility vehicles 18 104.5 0.0 –0.1 –0.4
Buildings 50 104.1 0.0 –0.7 –1.2
  • (1) The repayment of the domestic tax on energy products (TICPE) benefiting farmers has been applied in advance for the year 2015
  • Sources: Insee - SSP (ministry in charge of agriculture)

Intermediate consumption prices fell slightly compared to September (–0.2 %). Over one year they fell by nearly 2.0% mostly reflecting the fall in energy prices (-15,9%). Overall capital good prices were unchanged in October.

means – Purchase prices of the means of agricultural production

  • Sources: INSEE, SSP (ministry in charge of agriculture)