Türkiye sees rise in agricultural input price index

The Turkish Statistical Institute (TÜİK) has released data on the agricultural input price index (Tarım-GFE) for February, TRT Haber reports.

According to the report, the index increased by 3.1% compared to the previous month, by 7.08% since December last year, and by 31.55% on an annual basis. The average increase over the past 12 months stood at 32.64%.

In terms of cost structure, increases were recorded across key categories: goods and services used in agriculture rose by 2.96% month-on-month, while investment goods and services increased by 3.94%.

On an annual basis, the highest increases were seen in veterinary expenses (+41.37%) and animal feed (+37.7%). The smallest rises were recorded in pesticides (+18.33%) and energy along with fuel and lubricants (+21.11%).

On a monthly basis, the strongest growth was observed in materials (+4.31%) and animal feed (+3.73%), while the smallest changes were seen in veterinary expenses (+0.25%) and building maintenance costs (+0.97%).

Overall, the statistics indicate a continued steady rise in agricultural costs, particularly in feed and veterinary services, which is increasing pressure on producers.

By Vugar Khalilov