Insee conjoncture
30 novembre 2018
N° 2018-320

In October 2018, agricultural prices increased by +4,2% over one yearIndices of agricultural prices - October 2018

In October 2018, agricultural producer prices slowed down over one year (+4.2% after +6.0% in September). Excluding fruit and vegetables, they went up by 4.1% over one year and by 0.3% over one month (after +1.0%).

Informations rapides
No 320
Paru le : 30/11/2018
Prochaine parution le : 21/12/2018 at 12:00 - November 2018

In October 2018, agricultural producer prices slowed down over one year (+4.2% after +6.0% in September). Excluding fruit and vegetables, they went up by 4.1% over one year and by 0.3% over one month (after +1.0%).

New decline in cereal prices

In October 2018, cereal prices fell by 0.6% over one month (after −4.7%) and were still up sharply over one year (+23.3%). Soft wheat prices increased slightly (+0.3% over one month after −5.1%). Russian sales volumes weighed on prices again, but climate concerns over the level of global production remained strong. Grain maize prices lost 3.4% in October because of the abundance of supply from the Black Sea countries. Oilseed prices rebounded (+1.6% over one month after −2.4%) due to uncertainty on European rapeseed crop. (−0.6%).

Graph1Producer prices of cereals

  • Source: INSEE

Down prices over one year for fresh fruits, up for vegetables

In October 2018, fresh fruit prices fell by 3.0% over one year. Higher prices for apples (+2.6%) were more than offset by prices decline for pears (−5.1%) and grapes (−15.2%). Vegetable prices rose by 15.2% over one year with prices going up for salads (+15.6%), endives (+19.5%), carrots (+76.7%) and leeks (+54.2%). In contrast, tomato prices went down by 12.3% over one year.

Graph2Producer prices of fresh vegetables

  • Source: SSP (ministry in charge of agriculture)

Rising animal prices over a month

In October 2018, animal prices increased more moderately than in September (+0.6% after +1.3%). Prices for cattle were stable over one month, while those for pigs gained 3.6%. Over one year, however, these prices went down: −1.7% for cattle and −2.2% for pigs, due to a drop in demand and more intense competition between European countries.

Graph3Producer prices of pigs and large cattle

  • Source: INSEE

Eggs and cow milk prices decreased over a year

In October 2018, egg prices declined by 27.2% over one year. By the end of 2017, French production was in high demand because of the fipronil crisis. Cow's milk prices dropped 0.6% over one year in September, after a near-stability in August.

table1Index of producer prices of agricultural products (IPPAP)

Seasonnaly adjusted - base and reference 100 in 2015
Index of producer prices of agricultural products (IPPAP)
Variation as % over
Weights Oct. 2018 a month 3 months a year
Agricultural goods output 1000 108.1 /// /// +4.2
excluding fruits and vegetables 906 107.8 +0.3 +2.9 +4.1
Crop output (excluding fruits and vegetables) 489 112.1 0.0 +3.2 +9.9
Cereals 152 113.8 –0.6 +4.9 +23.3
of which soft wheat 90 117.0 +0.3 +4.9 +27.2
grain maize 27 108.3 –3.4 +3.8 +14.8
Potatoes 29 184.6 /// /// +55.1
Wines 200 107.0 +0.8 –3.9 –0.6
PDO wines 112 114.6 +1.4 –3.1 –0.8
other wines 25 89.2 –0.7 –16.9 –0.3
Oleaginous 40 94.9 +1.6 +3.3 +1.4
Horticultural products 35 102.8 +0.7 +0.9 –1.3
Other crop products 33 103.4 –0.1 +1.0 –3.2
Fruits and vegetables (1) 94 110.3 /// /// +5.4
Fresh vegetables 45 112.8 /// /// +15.2
Fresh fruits 32 107.9 /// /// –3.0
Animal output 417 102.8 +0.7 +2.5 –2.6
Animals 255 98.9 +0.6 +1.5 –1.1
of which large cattle 112 99.0 0.0 +0.4 –1.7
calves 20 100.0 –1.6 –2.1 –0.9
pigs 49 97.7 +3.6 +8.6 –2.2
sheep 14 97.2 –1.3 –5.4 –1.6
poultry 57 98.8 +0.5 +1.5 +0.3
of which chicken 39 98.9 +0.2 +1.6 +0.5
Milk 146 107.6 /// +0.7 –0.9
of which cow milk (2) 135 108.1 /// +0.7 –1.0
Eggs 16 120.7 +9.4 +38.1 –27.2
  • /// Absence of meaning due to the nature of these series
  • (1) Including vegetables for industry.
  • (2) The September value of cow milk price index is the estimate of the October one. The previous month variation is the one commented in the text: −0,6 % over one year in September 2018.
  • Sources: INSEE, SSP (ministry in charge of agriculture)

New rise in purchase prices of means of production over one month

In October 2018, intermediate consumption prices are increased again at a fast pace (+1.1% as in September), due to energy prices acceleration (+3.5% after +2.2%) and increases in animal feed prices (+1.0%) and fertilizers and amendments (+2.2%). Over one year, prices for intermediate consumption rose by 6.4%, in line with increases in energy prices (+20.9%) and those of fertilizers and amendments (+10.3%).

Prices of capital goods increased by 0.2% over one month and 3.5% over one year.year.

Revision

The variation over one year of IPPAP has been rosen by 0.3 points in September to +6.0%; The one of IPAMPA has not changed.

Graph4

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

table2Indices of purchase prices of the means of agricultural production (IPAMPA)

Raw data - base and reference 100 in 2015
Indices of purchase prices of the means of agricultural production (IPAMPA)
Variation as % over
Weights Oct. 2018 a month 3 months a year
Total input 1000 104.5 +0.9 +2.3 +5.7
Intermediate consumptions 760 103.6 +1.1 +2.9 +6.4
Energy 93 125.7 +3.5 +6.5 +20.9
Seeds 56 97.7 –0.2 +0.3 +0.7
Fertilisers and soil improvers 107 94.3 +2.2 +6.8 +10.3
Plant protection products 84 99.4 –0.2 –0.2 +0.5
Animal feed 214 100.8 +1.0 +3.6 +6.2
Veterinary expenses 37 107.3 +0.4 +0.5 +1.8
Small equipment and tools 11 103.4 +1.6 +2.3 +4.9
Maintenance of materials 88 105.3 +0.3 +0.6 +2.6
Maintenance of buildings 9 105.5 0.0 +0.3 +2.2
Other goods and services 61 102.5 0.0 –0.1 +0.6
Goods and services contributing to investment 240 107.3 +0.2 +0.6 +3.5
Material 168 107.0 +0.3 +1.1 +3.3
Tractors 71 111.3 +0.5 +1.8 +4.4
Machinery and equipment for cultivation 33 104.9 0.0 0.0 +2.2
Machinery and equipment for harvesting 38 104.5 +0.2 +1.6 +2.6
Utility vehicles 16 100.2 +0.2 +0.4 +1.0
Buildings 72 108.2 0.0 –0.6 +3.9
  • (1) The repayment of the domestic tax on energy product (TICPE) benefiting farmers has been applied in advance for the year 2018.
  • Sources: INSEE, SSP (ministry in charge of agriculture)

: bureau-de-presse@insee.fr
:
Prochaine parution le : 21/12/2018 at 12:00 - November 2018