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Farm Product Price Index
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Prices farmers received for their commodities were down 1.2% in September from August 2008, as both the crops index and the livestock and animal products index fell.
On a year-over-year basis, prices received by producers for crops were down 0.5% in September compared with September 2007, the first such decline since January 2006. Since September 2006, the crops index had maintained double-digit advances, when concerns over tight supplies and strong demand supported the increases.
On a month-to-month basis, this was the third consecutive drop in the grains and overall crops indexes, as the International Grains Council released its estimate of wheat production for the 2008/2009 crop year, 12.0% from the previous year.
The September 2008 livestock and animal products index dropped 1.9% from August as all commodities were down except poultry and dairy.
Note: The growth rate of the total Farm Product Price Index (FPPI) is not a weighted average of the growth rates of its crop and livestock components. The growth rate of the total FPPI is derived from a weighted average of the component indices using a different set of weights in consecutive months. Given this, the growth rate of the composite FPPI can lie outside the growth rate of the components.
Available on CANSIM: tables 002-0021 and 002-0022.
Definitions, data sources and methods: survey number 5040.
The September 2008 issue of Farm Product Price Index, Vol. 8, no. 9 (21-007-XWE, free), is now available. From the Publications module of our website, under All subjects choose Agriculture.
For more information, or to order data, call Client Services (toll-free 1-800-465-1991). To enquire about the concepts, methods or data quality of this release, contact Gail-Ann Breese (204-983-3445; fax: 204-983-7543; gail-ann.breese@statcan.gc.ca), Agriculture Division.
Table 1
Farm Product Price Index
