Statistics Mauritius notes rising price trend for agricultural & manufacturing products
Statistics Mauritius released the Producer Price Index (PPI) for the manufacturing and agricultural sector reflecting the price trends in each, such that both segments reflected an appreciation in price with 131.1 being the PPI for manufacturing in April 2015,while for agriculture, the index stood at 109.5 in the first quarter of 2015. (Image: Composite)
Statistics Mauritius released the Producer Price Index (PPI) for the manufacturing sector at 131.1 points for April 2015, representing an increase of 0.2% against March 2015, and,against the corresponding period in 2014, a rise of 0.4% was recorded.
The PPI measures the changes in the effective prices received by manufacturing sector producers for the part of their output that is sold on the domestic market; reflecting the price trends of a constant basket of goods, representative of the output of these manufacturing industries.
The higher value of the index for April was mainly due to higher prices in “Manufacture of Food products and beverages”, the monthly Statistics Mauritius report went on to note.
As for the Producer Price Index–Agriculture for the first quarter of 2015 ending March, itnotched 109.5 points representing a rise of 17.1% against the previous quarter ending December 2014. This double-digit rise is explained by the combined effects of increases of 15.1% and 1.9% registered in January and February respectively,albeit a marginal decrease of 0.1% was recorded in March.
Higher prices of fresh vegetables, which zoomed up 137.9%, fruits and nuts prices, which increased by 45.2% as well as rise in animal and animal’s products prices, which edged higher by 1.8%, led to the significant appreciation in the index on a straight quarter-on-quarter basis. Compared to the year-ago corresponding quarter in 2014 (January to March 2014) however, the index declined by 4.1%.
It is to be noted that the Producer Price Index-Agriculture provides a measure of the average change in the selling prices, which producers receive for their agricultural products.
The main component of the index is “Crop products” carrying 75.6% of the total weight, and this category saw an increase of 23.9% and 3.6% in January and February respectively, while it decreased by 0.5% in March.
Under “Crop products”, sugar cane is the component which heavily influences both the overall index as wellas that of the sub-group Crop products, of which it constitutes 57.1% and 75.5% of the respective weights under both overall and crop product categories.Here, it may be noted that the“Sugar cane” index from July 2014 to March 2015 was 68.5 based on the provisional price of sugar for the 2014 crop, thus representing a significant decline of 21.0% over the 2013 crop.