The Agricultural Input Price Index rose by 30.49% annually and 5.89% monthly in January. The index hit its lowest level since June 2023.

The Turkish Statistical Institute (TurkStat) released the Agricultural Input Price Index (Agri-GPI) data for January. According to the data, the index increased by 5.89% compared to the previous month, 30.49% compared to the same month last year, and 39.58% compared to the 12-month average.

As a result, the annual Agri-GPI hit its lowest level in the last 19 months since June 2023. In the main groups, the index for goods and services used in agriculture increased by 5.95% compared to the previous month, while the index for goods and services contributing to agricultural investment increased by 5.56%.

Compared to the same month last year, there was a 29.02% increase in the index for goods and services used in agriculture, and a 39.58% increase in the index for goods and services contributing to agricultural investment. THE HIGHEST INCREASE WAS IN SEEDS According to the annual Agri-GPI, 7 sub-groups showed a decrease, while 4 sub-groups showed an increase. In January, the sub-groups with the lowest annual increase were energy and lubricants at 21.43% and agricultural chemicals at 21.66%.

The sub-groups with the highest annual increase were seeds and planting material at 50.09% and other goods and services at 49.13%. According to the monthly Agri-GPI, 7 sub-groups showed a decrease while 4 sub-groups showed an increase. In January, the sub-groups with the lowest monthly increase were building maintenance expenses at 1.96% and agricultural chemicals at 2.15%.

On the other hand, the sub-groups with the highest monthly increase were veterinary expenses at 32.87% and other goods and services at 19.79%.