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The Agricultural Output Price Index is the index of producer prices of agricultural products. It is based on the sales of agricultural products and includes:
However, the sales of animals between agricultural units are excluded.
Deductible VAT and third-party levies are also excluded.
In order to ensure consistency across the EU, prices are based on the market price concept. The market price is defined as the price received by the producer without the deduction of bonuses, taxes and levies (except deductible VAT and third-party levies) and without the inclusion of subsidies.
Monthly prices are used for most products. Annual prices are only available for some items e.g. cereals. For these products the annual price is used each month to calculate the monthly indices until the beginning of the next season or harvest.
For milk and cereals, standardised prices are used to ensure that products of identical quality are priced in successive periods. In the case of milk, this means pricing each month at a fixed butterfat (3.7%) and protein (3.3%) content which is the EU standard. Cereals are also standardised at 20% moisture content each year.
Further details on the sources used to compile the Agricultural Output Price Index can be found here: Output Price Index Data Sources
The overall annual Agricultural Output Price Indices are presented in Figure 3.1. Table 3.1 contains detailed annual indices from 2020. It shows that the Agricultural Output Price Index was down 9.8% in 2023 when compared with 2022.
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