CSO statistical release, , 11am
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:
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.
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 % |
|---|---|
| Cattle | 38.05 |
| Pigs | 8.27 |
| Milk | 34.11 |
| Other Animal Outputs | 7.98 |
| Crop Output | 11.59 |
| X-axis label | % | 2015 Outputs Base Year Weights % |
|---|---|
| Cattle | 38.47 |
| Pigs | 7.93 |
| Milk | 34.11 |
| Other Animal Outputs | 7.96 |
| Crop Output | 11.53 |
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 Stock | 1.89 |
| Energy | 11.29 |
| Fertilisers and Soil Improvers | 15.03 |
| Plant Protection Products | 1.95 |
| Veterinary Expenses | 7.71 |
| Animal Feeding Stuffs | 36.37 |
| Other Inputs | 25.76 |
| X-axis label | % | 2015 Inputs Base Year Weights % |
|---|---|
| Seeds and Planting Stock | 2.09 |
| Energy | 12.6 |
| Fertilisers and Soil Improvers | 14.06 |
| Plant Protection Products | 1.60 |
| Veterinary Expenses | 7.69 |
| Animal Feeding Stuffs | 35.57 |
| Other Inputs | 26.40 |
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.
Go to next chapter >>> Agricultural Price Indices February 2018
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