The overall agricultural output price index increased by 2.3% in November, the first time it has risen since May 2013. Even though the API output price index rose this November from 118.1 to 120.7 it is still 2.4% lower than November last year. The API for all inputs fell by 0.2% from 112.9 to 112.7 and is 2.1% lower than last year.
The continued increase in milk prices was one of the main contributors to the rise in output prices. Both milk and milk products were still in global demand for the sixth month in a row. Prices are up 15% on last year. Cattle prices are continuing to fall after the high prices seen in the summer.
Input prices haven't changed much. Fertiliser prices are 18% lower than last year but expected shipments of straight nitrogen fertiliser from North Africa were delayed due to regional problems resulting in a slight rise in price.
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