Latest News: Agriculture-GFE Shows Increase
The Turkish Statistical Institute (TUIK) has recently released the Agricultural Input Price Index for November, and the results show significant changes compared to previous months and years.
According to the report, the Agriculture-GFE index saw a 1.44 percent increase compared to the previous month, a 37.83 percent increase compared to December of the previous year, a 38.82 percent increase compared to the same month of the previous year, and a 12 percent increase compared to the twelve-month averages. Overall, there was an increase of 46.96.
Breaking it down further, the main groups in the index of goods and services used in agriculture and the index of goods and services that contribute to agricultural investment saw increases of 1.39 percent and 1.70 percent, respectively, compared to the previous month. Compared to the same month of the previous year, the increases were even more substantial at 34.32 percent and 72.48 percent, respectively.
In terms of subgroups, there were notable differences between the lowest and highest increases. Fertilizer and soil improvers showed the lowest increase compared to the same month of the previous year at 8.44 percent, while veterinary expenditures had the highest increase at 144.54 percent. Compared to the previous month, fertilizers and soil improvers decreased by 2.15 percent, while veterinary expenses increased by 10.84 percent.
Overall, the report highlights the significant fluctuations in agricultural input prices and the impact it could have on the agricultural sector. This data will be crucial for farmers, policymakers, and businesses to make informed decisions and adjustments in their operations.
