Overall producer prices of agricultural products decreased by 0.8% in February 2016Indices of agricultural prices - février 2016

In February 2016, overall producer prices of agricultural products fell again compared to last month (−0.8 after −1.1%) Over one year, they dropped by 2.3%.

In February 2016, overall producer prices of agricultural products fell again compared to last month (−0.8 after −1.1%) Over one year, they dropped by 2.3%.

Sharp falls in cereals and oleaginous prices

Cereal prices have tumbled for three months (−14,7 % compared to November 2015) due to the abundant world supply And forecast of significant harvests in the Northern hemisphere.

cereal – Producer prices of cereals

  • Source: INSEE

Oleaginous prices have slumped for three months (−9,1% compared to November 2015) reflecting the decrease in Chinese importations and the significant fall in oil prices that reduced the interest of hydrocarbon substitution by oleaginous.

Surge in potatoe prices, near stability in fruit prices and drop in vegetable prices.

Potatoe prices doubled in February over one year. The 2015 crop reached its long-term average whereas the previous one was exceptional.

Fresh fruit prices were virtually stable over one year. Walnuts and kiwis prices declined while apples became a little more expensive, as this fruit was sold easily through exportations.

Fresh vegetable prices plummeted y-o-y (−17.3%). The mild temperatures hastened the harvests and improved the yields, noticeably for salads and cauliflowers. Chicory prices also fell back, as a result of the competition of salad.

vegetable – Producer prices of fresh vegetables

  • Source: SSP (ministry in charge of agriculture)

Drop in animal prices and tumble in milk price

On a seasonaly adjusted basis animal prices decreased in February 2016 (−0.6% compared to last month). The European competition and the Russian embargo kept on weighing on pig prices (−1.3%), that were already low.

pig – Producer prices of pigs and large cattle

  • Source: INSEE

Cow milk prices lost 8.4% over the last three months : since the end of the quotas, the Northern Europe increased its production of cow milk while, on the demand side, the Russian outlet remained suspended and the Chinese demand slowed down.

Egg price picked up a little this month (+0.5%), after falling sharply in January.

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

base year: 2010
Indices of producer prices of agricultural products (IPPAP)
Variation as % over
Weights Feb. 2016 a month 3 month a year
raw Seasonnaly adjusted raw
Agricultural goods output 1000 108.5 –0.8 –4.6 –2.3
excluding fruits and vegetables 900 110.0 –0.7 –4.4 –1.7
Crop output (excluding fruits and vegetables) 505 113.4 –1.0 –4.6 –0.8
Cereals 188 91.1 –4.9 –14.7 –17.3
of which soft wheat 112 86.6 –6.0 –17.0 –20.2
grain maize 41 87.6 –3.5 –11.4 –3.4
Potatoes 26 180.8 /// /// +97.4
Wines 177 133.8 +1.9 +2.2 +3.9
Protected designation of origin 84 142.8 +3.2 +4.2 +7.4
other wines 23 147.4 +1.3 –0.1 –0.9
Oleaginous 49 95.1 –3.0 –9.1 –2.1
Horticultural products 30 110.9 –1.4 –2.9 0.0
Other crop products 36 108.1 –0.1 +0.7 0.0
Fruits and vegetables (1) 100 94.2 /// /// –8.8
Fresh vegetables 53 82.0 /// /// −17.3
Fresh fruits 35 104.6 /// /// –0.2
Animal output 395 105.7 –0.4 –4.1 –2.8
Animals 234 110.1 –0.6 –1.7 –0.8
of which large cattle 96 116.3 –0.8 –3.1 –1.0
calves 26 114.0 +1.1 +4.7 +2.2
pigs 54 96.4 –1.3 –3.2 –2.6
sheep 10 111.5 –2.4 –0.9 –6.4
poultry 46 111.0 –0.2 –0.6 +1.7
of which chicken 28 110.3 –0.4 –1.3 +0.9
Milk 147 97.8 /// –7.8 –5.9
of which cow milk (2) 137 96.9 /// –8.4 –6.4
Eggs 15 114.3 +0.5 –8.9 –6.4
  • (1) Including vegetables for industry.
  • (2)The seasonnaly adjusted cow milk price indice is not yet known and therefore is carried forward to its January level
  • Sources: INSEE, SSP (ministry in charge of agriculture)

Purchase prices of means of production virtually stable in February

In February 2016, intermediate consumptions prices decreased again compared to the previous month (−0.4 % after −-0.7%). Animal feed prices kept declining (−0.9 %) while prices of energy and fertiliser stabilized.

However, energy prices remained far inferior to its level one year before (−18.8%), as well as, albeit to a lesser extent, fertiliser prices (−6.0%). Capital goods prices increased by 0.4% over one month.

means – Purchase prices of the means of agricultural production

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

Tab2 – Indices of purchase prices of the means of agricultural production (IPAMPA)

Base year : 2010
Indices of purchase prices of the means of agricultural production (IPAMPA)
Weights Feb. 2016 variation as % over
a month 3 month a year
Total input 1000 107.2 –0.2 –1.5 –2.7
Intermediate consumptions 764 107.3 –0.4 –2.1 –3.8
Energy 100 83.6 0.0 –11.4 –18.8
Seeds 57 108.7 –0.1 –1.0 +0.1
Fertilisers and soil improvers 92 114.1 –0.1 –1.6 –6.1
Plant protection products 78 99.7 –0.4 –0.9 –0.3
Animal feed 205 114.1 –0.9 –1.8 –3.4
Veterinary expenses 43 116.3 –0.1 +1.1 +2.4
Small equipment and tools 17 109.5 –0.4 –0.4 +1.7
Maintenance of materials 67 113.5 0.0 +0.1 +0.6
Maintenance of buildings 9 106.6 0.0 +0.1 –0.1
Other goods and services 97 101.8 0.0 0.0 +0.6
Goods and services contributing to investment 236 107.2 +0.4 +0.6 +0.8
Material 186 108.4 +0.4 +0.8 +1.4
Tractors 79 108.9 +0.7 +1.5 +2.3
Machinery and plant for cultivation 36 110.6 +0.4 +1.2 +1.1
Machinery and plant for harvesting 42 108.1 +0.1 +0.2 +1.2
Utility vehicles 18 104.6 0.0 –0.5 0.0
Buildings 50 102.4 0.0 –0.8 –1.7
  • (1) The repayment of the domestic tax on energy products (TICPE) benefiting farmers has been applied in advance for the year 2016
  • Sources: INSEE, SSP (ministry in charge of agriculture)