MaltaMedia.com

During the fourth quarter of 2008, producer and input prices for agricultural output increased by 1.0 and 9.8 per cent respectively according to estimates published by the National Statistics Office on Tuesday.

Underpinning this result was a decrease of 3.9 per cent in the fresh vegetables price index, resulting from an increase in the supply of fresh vegetables in the fourth quarter. Consequently, lower prices were fetched for onions (-17.3 per cent), cabbage (-65.8 per cent) and globe artichokes (-61.3 per cent). The price of potatoes registered a drop of 36.0 per cent over the comparative quarter as a result of a sharp increase in the supply of this crop.

During the period under review, fruit prices declined by 9.6 per cent to stand at 118.2 points. This decline was primarily due to an increase in citrus fruit production which resulted in prices falling by 4.8 per cent over the comparative period in 2007.

Animal prices, on average, rose by 6.7 per cent over the comparative period in 2007, as higher prices were registered for slaughtered pigs (+13.7 per cent), poultry (+12.2 per cent) and rabbits (+2.5 per cent). On the other hand, prices fetched for slaughtered bulls and cows declined by 8.2 and 12.0 per cent respectively. The animal products index rose by 13.0 per cent on account of a higher producer price of raw milk (+18.2 per cent), while egg prices edged down by 1.5 per cent.

The annual average producer price index for 2008 stood at 111.7 points, up by 3.9 per cent over 2007. This resulted from an increase in the producer price index of fresh vegetables (+9.0 per cent), slaughtered animals (+1.6 per cent) and animal products (+19.4 per cent). On the other hand, the producer price index of fruits and potatoes declined by 1.7 and 33.5 per cent respectively.

In the fourth quarter of 2008, the input price index for agriculture registered an increase of 9.8 per cent to stand at 129.3 points, mainly on account of higher running costs incurred by agricultural holdings.

The goods and services index increased by 10.5 per cent over the comparative period on account of higher prices paid for maintenance of materials (+12.6 per cent), motor fuels (+17.9 per cent) and animal feeding stuffs (+6.3 per cent) on the market. The machinery and investment index rose by 1.4 per cent on account of higher prices paid for materials (+0.2 per cent) and buildings (+2.7 per cent).

The annual average input price index for 2008 stood at 129.2 points, up by 18.8 per cent on 2007, mainly due to higher prices paid for animal feeding stuffs (+28.8 per cent) and motor fuels (+18.3 per cent). On the other hand, the machinery and investment index decreased by 1.6 per cent on account of a 4.9 per cent decline in investment material prices.