Higher Farm Input Prices

Tuesday, 21 August 2001, 3:57 pm
Press Release: Statistics New Zealand

Farm Expenses Price Index: June 2001 quarter

The Farm Expenses Price Index increased 1.9 per cent in the June 2001 quarter, according to latest figures from Statistics New Zealand. The index is now 8.3 per cent higher than in the June 2000 quarter.

A 7.8 per cent rise in livestock prices contributed significantly to the overall increase in farm expenses for the June 2001 quarter. When livestock is excluded, farm expenses rose 1.0 per cent in the June 2001 quarter compared with the previous quarter. Livestock prices rose 31.9 per cent between the June 2000 and June 2001 quarters.

Price increases for feed, grazing, cultivation and harvesting contributed 25 per cent to the overall increase in farm expenses. Price increases in the June 2001 quarter were partly offset by a 1.4 per cent decrease in the interest rates index.

Brian Pink Government Statistician

END

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