BANGKOK, 20 February 2014 The Office of Agricultural Economics (OAE) has reported that the Agricultural Price Index in January 2014 increased 3.22% year-on-year while the Agricultural Production Index was up 3.23%.
According to OAE Secretary-General Anan Lila, the January Agricultural Price Index edged up 3.22% compared to the same period last year but was down 0.62% from December 2013. The price of cassava increased due to high demand from China while the price of oil palm moved up because of lower supply. Swine and chicken eggs also became more expensive in line with soaring production costs.
Para rubber, however, saw its price tumble due to increasing supply and the economic slowdown in China, which is a major importer. The price index is expected to remain relatively stable in February.
As for the Agricultural Production Index in January, Mr Anan said the figure increased 3.23% from the same month in 2013 but dropped from December by as much as 35.74%. Production hikes occurred in rice, Para rubber, swine, broiler chickens and eggs, whereas decreases were reported in pineapple, red onion and oil palm. The production index in February is likely to decline further from January.
