Farm Input Price Up Slightly – StatsCan

Farm Input Price Up Slightly – StatsCan

on July 24 | in Ag News | by | with No Comments

From Statistics Canada 

The Farm Input Price Index increased 0.4% in the first quarter, following a 0.8% increase in the fourth quarter of 2012.

Machinery and motor vehicles (+2.0%) contributed the most to the quarterly rise. The growth in the index was offset by a decrease in animal production (-0.5%).

The index increased in eight provinces in the first quarter. Alberta (+1.0%) and Saskatchewan (+0.9%) contributed the most to the national advance, while the only provincial decrease was observed in Ontario (-0.3%). Increasing grain feed costs in Alberta (+11.4%) led the quarterly advance of the index in the West. Meanwhile, decreasing prepared feed costs in Ontario (-3.2%) slowed the growth in the index in the East.

Nationally, farm input prices increased 1.3% between in the first quarter compared with the first quarter of 2012.

Animal production costs (+3.7%) contributed the most to the year-over-year price movement. Animal production has been the main contributor to the annual growth of the index since the third quarter of 2010.

In the first quarter, the index increased in nine provinces compared with the first quarter of 2012. The largest contributions to the increase were observed in Quebec (+3.7%) and Ontario (+1.4%), with the only annual decrease observed in Saskatchewan (-0.1%). Annual price increases were primarily the result of prepared feed costs rising in both Quebec (+14.5%) and Ontario (+13.8%). Falling fertilizer costs contributed to the decline in Saskatchewan (-5.0%).

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