February 2024: decrease in the agricultural output price indices
In February 2024, producer price indices for most agricultural products decreased compared to February 2023.
With -38.9%, the cereal index registers the most significant annual decrease, which has become even more pronounced since January 2024 (-10.0%).
Compared to February 2023, the price index for animals has fallen by more than 3.7%, that for animal products by more than 13% and that for vegetables by almost 20%.
Purpose and brief description
The agricultural price indexes (API) are above all used to analyze the evolution of prices and their impact on the agricultural income. The purpose of the price indexes is to provide information on trends in producer prices of agricultural products and purchase prices of the means of agricultural production. These indexes should allow comparing the trends between the member states and the European Union as well as between various products within a member state or the European Union. They should also facilitate the comparison between the trend of output prices and that of purchase prices of the means of agricultural production.
Population
Agricultural holdings active in Belgium during the reference period
Frequency
Monthly
Timing publication
Results available 45 days after the reference period
Definitions
Agricultural output price index :It is the agricultural output price index based on the sales of agricultural products delivered outside the agricultural sector.
Index of the purchase prices of the means of agricultural production : It is the index of purchase prices of the means of agricultural production to the exclusion of agricultural products as production means.
Average price of the agricultural and horticultural products : It is the average price received by the farmer when selling agricultural products.