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Farm Input Prices Declining

Written By: Eric Anderson, Jul 07, 2015

Statistics Canada is reporting this morning that:

The Farm Input Price Index decreased by 0.4% in the first quarter.

The main reason for the decline was lower prices for machinery and motor vehicles (-4.2%), in particular for machinery fuel (-16.6%).

To a lesser extent, buildings (-1.4%) also contributed to the decline of the Farm Input Price Index.

Crop production (+1.1%), general business costs (+1.3%) and animal production (+0.1%) recorded price increases.

The index decreased in four provinces. Saskatchewan (-2.5%) posted the largest decline, followed by Quebec (-1.1%), Manitoba (-1.0%) and New Brunswick (-0.3%).

At the Canada level, farm input prices rose 2.7% in the first quarter compared with the same quarter a year earlier.

The year-over-year increase was largely attributable to animal production (+13.6%).

Compared with the first quarter of 2014, the index was up in six provinces. Alberta (+8.3%) recorded the largest year-over-year increase.

We created some charts for you:




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Posted in Ag news | More articles by Eric Anderson

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