Prices and price index for agriculture

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Food Industries, Business Statistics
Simone Thun
+45 51 36 92 51

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Prices and price index for agriculture 2024

The purpose of these statistics is to illustrate the evolution of agricultural prices and price indices. The agricultural sales index illustrates price trends for both vegetable and animal sales products and services. A part of the statistics have been calculated since 1956, but since 1970 the most widely definition has been used, which includes horticulture, fur production and products from bees and wild game.

Statistical presentation

The Statistics contains for almost all items, monthly, quarterly and yearly information of agricultural prices, as well on sale products as on most products used in the intermediate consumption including capital formation. Some prices are only obtainable as price indices only, especially regarding intermediate consumption. The statistics covers both agriculture and horticulture. The collection of data for these statistics has not been affected by COVID-19.

Statistical processing

Data for this statistics is collected at different frequencies from multiple sources. The collected data undergoes a simple validation. Once data is validated, aggregation occurs for a portion of data before publication, while other data is while other data is published directly.

Relevance

The statistics are used by agricultural organizations and ministries to monitor price developments within the industry as well as as a basis for various analyzes and forecasts. The basic data and results of the statistics are also applied to other statistical areas in Denmark Statistics, for example, for the calculation of the gross income of agriculture as used in the National Accounts.

Accuracy and reliability

On some products, i.e. horticultural products, qualities and types are several and dynamic. It makes it a little difficult to be sure on the representatively on the prices followed. Concerning input prices based on general price statistics, the situation in agriculture are maybe not fully reflected. Some indices on volumes are indirectly measured based on values and price indices. This method can lead to inaccuracy. The declaration on content on Economic Account for Agriculture and these on animal production includes more information on possible inaccuracy. Because of the very different picture of sources, margins of statistical errors can not be calculated. However, for main output products, i.e. milk and meat, the coverage and accuracy are close to 100 per cent. Prices on cereals and feeding stuff (concentrates) are based on more that 70 per cent of total volume, which ensure high reliability. In general, the accuracy is highest on sales product and less high on intermediate consumption and goods for capital formation.

Timeliness and punctuality

The statistics are usually published without any delay in relation to the published release times.

Comparability

Statistics are compiled according to common European guidelines and can therefore be compared with similar statistics from other European countries.

Accessibility and clarity

These statistics are published quarterly in a Danish press release. In the StatBank, these statistics can be found under the subject Prices and price index for agriculture. These statistics are also presented in the Statistical Yearbook. For further information, go to the subject page.