Farm Product Price Index Climbing Steadily – StatsCan

on August 26 | in Ag News | by | with No Comments

From Statistics Canada, the Daily

The Farm Product Price Index (FPPI) rose 5.7% in June compared with June 2012, as both the crops index and the overall livestock and animal products index increased. The FPPI, driven mainly by rising crop prices, has posted year-over-year increases since August 2010. Double-digit increases were recorded until December 2011.

The crops index rose 7.2% in June compared with June 2012, the smallest rate of increase this year. All crops contributed to the increase, except potatoes (-5.9%). Last fall, the largest combined Canada and US potato production since 2004 boosted North American supplies.

The oilseeds index continues to be a major contributor to the crops index growth, but at a slower rate. The 9.3% increase over June 2012 was the first single digit year-over-year increase since September 2012. Canadian producers seeded the second largest canola crop and largest soybean crop this spring, while in the United States, it was reported that a record soybean crop was seeded.

The livestock and animal products index rose 4.0% in June compared with June 2012, marking the third consecutive monthly year-over-year increase, changing a downward trend that had started in August 2012.

All livestock components advanced, ranging from 2.4% for cattle and calves to 8.7% for eggs

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