Agricultural input prices rise 29 percent annually

ANKARA

The agricultural input price index surged 28.92 percent year-on-year in February, slowing from the 30.49 percent rise in the previous months, data from the Turkish Statistical Institute (TÜİK) has shown.

The index of the cost of goods and services used in agriculture rose by 27.5 percent, while the annual increase in the cost of goods and services contributing to agricultural investment was 37.8 percent.

Veterinary expenses, with an increase of 52.51 percent, were the subgroup that indicated the highest annual rate of change, TÜİK said. Seeds and planting stock ranked second at 47.6 percent.

The cost of maintenance of buildings rose 30 percent compared to February last year, while the annual increase in fertilizers was 26.7 percent.

The index of materials cost showed a year-on-year increase of 40 percent.

Energy and lubricants prices surged 16 percent in February from a year ago, and pesticide costs rose nearly 21 percent annually.

The month-on-month increase in the agricultural input price index slowed from 5.89 percent in January to 2.35 percent in February, according to the data.