Producer inflation in agriculture fell to 106.77 percent in March

The Turkish Statistical Institute (TUIK) announced the producer price index for agricultural products for March 2023.

Thus, in March 2023 the PPI-agricultural is 1.79 percent compared to the previous month, 20.51 percent compared to December of the previous year, 106.77 percent compared to the same month of the previous year and 142 percent according to twelve month averages. There was an increase of .37.

Compared to the previous month, there was an increase of 1.64 percent in agricultural and hunting products and related services, an increase of 3.96 percent in forestry products and related services, and an increase of 6.72 percent in fish and other fishery products.

Compared to the previous month, there was a 3.51% decrease in year-old herbal products, a 4.57% increase in perennial herbal products, and a 7.22% increase in live animals and products of animal origin in the main groups.

HERE ARE THE RISING PRODUCTION COSTS…

According to TUIK data, in March, compared to the previous month, the highest cost of production occurred in livestock (cattle) with 18.79 percent, followed by green beans with 18.43 percent and dry onion with 16 .54 percent.

PRICE INCREASED ON 45 OF 81 ITEMS

The subgroups with low annual increase were fibrous plants with 21.55 percent and cereals (excluding rice), legumes and oilseeds with 68.88 percent, respectively.

For their part, the subgroups with the highest annual increase were citrus with 174.94% and oilseeds with 173.85%, respectively.

The subgroups with the greatest decrease compared to the previous month were other fruit trees and shrubs and nuts with 28.66 percent, vegetables and melon-watermelon, roots and tubers with 7.40 percent, respectively. On the other hand, the subgroups in which the monthly increase is high are live birds and eggs with 11.49 percent and sheep and goats with 10.81 percent; they had raw milk and fleece.

In March 2023, of 81 items included in the index, the average price of 31 items decreased and the average price of 45 items increased.