Producer Prices in Agriculture Increased in May

Producer prices in agriculture increased in May. Producer prices increased by 20.2 percent in last month.

The Turkish Statistical Institute (TURKSTAT) published the Agricultural PPI data for May. According to the data announced, the index decreased by 0.43 percent in May compared to the previous month, increased by 7.07 percent compared to December of the previous year, increased by 20.2 percent compared to the same month of the previous year and increased by 19.6 percent compared to the 12-month averages. When the changes in the sectors compared to the previous month are analyzed, it was observed that there was a 1.35 percent decrease in agriculture and hunting products and related services, a 4.66 percent increase in fish and other fishery products, and a 34.76 percent increase in forestry products and related services. The change in the main groups compared to the previous month was recorded as a decrease of 15.04 percent in perennial plant products, an increase of 1.36 percent in live animals and animal products, and an increase of 4.48 percent in one-year plant products. Other subgroups with the highest annual increase were cereals (excluding rice), legumes and oilseeds with 26.59 percent, sheep and goat livestock along with their unprocessed milk and wool with 23.68 percent. The subgroups that showed the least annual increase were paddy with 2.32 percent, other tree and shrub fruits and nuts with 6.71 percent, vegetables and melon-watermelon, roots and tubers with 7.31 percent.

Grains, Legumes and Oilseeds Increased the Most

Cereals (excluding rice), legumes and oilseeds subgroup recorded the highest monthly increase with 2.92 percent. Other subgroups, which showed the highest increase compared to the previous month, were recorded as sheep and goat live, their unprocessed milk and fleece with 1.95 percent. The subgroups that showed the least monthly increase were recorded as fibrous plants with 0.42 percent and other farm animals and animal products with 0.52 percent. On the other hand, the subgroups with a decrease compared to the previous month were paddy with 4.68 percent and live poultry and eggs with 1.5 percent. In May, while the average price of 25 items out of 82 items included in the index decreased, the average price of 16 items remained unchanged. There was an increase in the average price of 41 items.