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INSTAT: The growth of domestic agricultural production brought about a drop in prices

INSTAT: The growth of domestic agricultural production brought about a drop in prices

INSTAT published for the first time the Agricultural Price Index (HICP), expanding with base year 2015 through 2017.

Referring to the statistics, the growth of domestic agricultural production has affected the decrease of prices for these products in the markets of the country, which dominate the districts Lushnje, Fier, Berat etc., which are also the areas with the highest potential of agricultural production.

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The agricultural product price index in 2017 marked a decrease of 0.7% compared to the previous year. In 2017, the price index of plant products fell by 0.9%, and the livestock products price index fell by 0.4% compared to the previous year.

According to the data published today, the biggest annual growth has been recorded, the prices of the “Industrial Plant” group with 22.25%. “Vegetables” prices have increased by 0.01 percentage points. Also the prices of “Meat, live weight” groups increased by 2.65 percentage points and “Wood producers” by 0.23 percentage points.

The “Cereals” group has declined by 11.62%. Prices of “Forage Plants” group fell by 7.06%. “Potato” group prices have fallen by 8.38%. Prices of “Milk and other livestock products” group fell by 2.59%.

INSTAT explained that the agricultural product price index measures the price changes of agricultural products at country level and allows comparison with other countries, writes Monitor.

These data provide information on the price performance for plant products, livestock products and other livestock products over a given period of time. agricultural product price indices are calculated using “production prices” accumulated on farms, excluding taxes.

The source of data is the Monthly Survey of Agricultural Product Prices. In 2017, the annual agricultural product price index (2015 = 100) reached 99.2, from 99.9 in 2016.

Agricultural Product Price Indices are calculated based on the standards and rules outlined in the Eurostat Agricultural Product Price Handbook. Data collection is carried out near farms, livestock markets, majority markets, and other places where agricultural crops can accumulate. information is only taken for farm level prices for domestic products, excluding taxes. They are calculated in Lek, while the measuring units are in: kg, liter and pieces.

The products that make up the base for the agricultural product price index are divided into two main groups: Plant and livestock products. For plant products, prices have been collected for these groups: cereals, industrial plants, forage plants, vegetables, potatoes and fruit trees. For livestock products, prices have been collected for livestock and livestock products. Prices are collected for four main categories of animals: cattle, mice, pigs and poultry. For livestock products, prices are collected for categories: milk, eggs and honey.

News Soource: ATA

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