Price Indices in Agriculture, Third Quarter of 2023

The producer price index in agriculture for the third quarter of 2023 decreased by 24.9% in comparison with the same quarter of 2022 as a result of an decrease in the price index of crop output by 30.5% and an increase in the index of animal output by 10.5%.

Compared to the previous year, the prices of agricultural output decreased by 23.8%, as in crop output they decreased by 29.9% and in animal output they increased by 13.9%.

In crop output, in the third quarter of 2023, compared to the same quarter of 2022, the highest drop was recorded in the prices of cereals - by 37.1%. The trend also retained in comparison with 2022, with the decrease in cereals - by 35.5%.

In animal output, in the third quarter of 2023 compared to the same quarter of 2022, the prices of live animals increased by 21.2%, and of animal products output - by 0.7%. Compared to 2022, the increase was by 28.3% and 0.8%, respectively.

The price index of products and services currently consumed in agriculture for the third quarter of 2023 was lower by 10.8% compared to the same quarter of the previous year and by 7.6% compared to 2022.

The biggest decrease, compared to the third quarter of 2023, was observed in the prices of: mineral fertilizers - by 44.9%, electricity - by 8.5%, and plant protection preparations - by 5.4%.

Compared to the previous year, the biggest decrease was in the prices of: mineral fertilizers - by 41.7%, electricity - by 3.5%, and plant protection preparations - by 3.3%.