Ali Çandır, Chairman of Antalya Commodity Exchange (ATB) and Antalya Agricultural Council (ATAK), commented on the Agricultural Input Price Index (Tarım-GFE) for April announced by the Turkish Statistical Institute (TÜİK).
Ali Çandır, Chairman of the Antalya Commodity Exchange (ATB) and Antalya Agricultural Council (ATAK), commented on the Agricultural Input Price Index (Tarım-GFE) for April, as announced by the Turkish Statistical Institute (TÜİK).
Çandır noted that the Tarım-GFE for April increased by 1.72% monthly, stating, "This figure is 3% higher than the April average (1.67) since the index began in 2015." He also highlighted a yearly increase of 52.20% for April in Tarım-GFE, stating, "This yearly figure is 61% higher than the April average of the past 9 years (32.51). Tarım-GFE has been reported with an increase of over 8 times monthly compared to last year's April and more than 55% yearly."
Looking at the sub-indices of April's Tarım-GFE, Çandır mentioned that prices of goods and services used in agriculture increased by 1.70% monthly and 49.13% yearly. He further specified, "These are the highest values since April of 2021 and 2022 monthly, and after 2022 yearly." Specifically, in April, there were changes reported: seeds increased by 5.35% monthly, energy by 1.13%, fertilizers decreased by -0.23%, pesticides by 2.15%, veterinary services by 0.02%, feed by 1.65%, and other items by 1.29%. Çandır drew attention to yearly increases: seeds by 61.96%, energy by 70.69%, fertilizers by 26.92%, pesticides by 23.76%, veterinary services by 143.26%, feed by 36.20%, and other items by 89.95%.
Çandır also stated that prices of goods and services contributing to agricultural investment increased by 1.87% monthly and 73.70% yearly. He evaluated, "Changes in April's Tarım-GFE sub-indices have shown similar trends since the beginning of the year. Notably, unusual increases in veterinary services and other service categories, as well as moderate increases in fertilizers, pesticides, and feed, continue to be noteworthy."
Regarding the Agricultural Producer Price Index (Tarım-ÜFE) for April, which TÜİK announced with a monthly increase of 2.71% and a yearly increase of 60.77%, Çandır emphasized, "While the trend over the past year has generally been against producers, the monthly and yearly increases in input costs in April have been below producer prices. This favorable trend for producers in both monthly and yearly terms is important, as it could help reduce accumulated losses for producers."
Çandır also pointed out that domestic and international producer inflation indirectly affects the agricultural sector, mentioning that international producer inflation (YD-ÜFE) increased significantly by 1.37% monthly and 65.53% yearly in April. Domestic producer inflation (Yİ-ÜFE) increased by 3.60% monthly and 55.66% yearly. He remarked, "The food category at the producer level increased by 5.38% monthly and 64.51% yearly in April. This indicates that inflation in food manufacturing industries based on agriculture has been higher than in agriculture itself."
Regarding consumer inflation (TÜFE) in April, Çandır stated that it increased by 3.18% monthly and 69.80% yearly. He highlighted that food inflation on the consumer side was declared as 2.78% monthly and 68.50% yearly for April. He further noted, "Unprocessed food inflation in April was announced as 3.85% monthly and 77.85% yearly, while fresh fruit and vegetable inflation increased by 0.66% monthly and 77.96% yearly." Çandır concluded, "These figures on the consumer side continue to show a consumer inflation above what producers are facing."
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