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Reference metadata describe statistical concepts and methodologies used for the collection and generation of data. They provide information on data quality and, since they are strongly content-oriented, assist users in interpreting the data. Reference metadata, unlike structural metadata, can be decoupled from the data.

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Selling prices of agricultural products (absolute prices) (apri_ap)

Reference Metadata in Euro SDMX Metadata Structure (ESMS)

Compiling agency: Eurostat, the statistical office of the European Union

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Agricultural prices are crucial variables for the purposes of decision-making in economic activities, as they provide basic information for many socio-economic models calculation, econometric modelling or to determinate price elasticities.

Eurostat collects and publishes agricultural absolute prices from the Member States, which comprise:

  •  the prices “received” by farmers for their products (output prices);
  •  the prices “paid” by farmers related to means of production (input prices).

The absolute agricultural prices are especially used for (1) comparisons between Member States and (2) for economic analyses.

To achieve these objectives, much progress has already been made in the harmonisation of the time series across Member States, by adopting common concepts and definitions. The Member States gather information on selected items fulfilling agreed criteria, i.e. significant in value relative to national agricultural production or possibly of increasing relevance.

The agricultural prices, transmitted in national currency, are converted into Euros since 1998 (into ECU until 31 December 1998).

24 July 2020

The "output" price is the average price received by farmers on the market for an agricultural commodity, produced within a specified 12-month period. This price is measured at the farm gate, i.e. at the point where the commodity leaves the farm and, therefore, does not cover the costs for transport or processing.

The "input" price is the average price paid by a farmer for buying means of agricultural production within a specified 12-month period. This price is measured at the farm gate and, therefore, the input price covers the costs of transport and processing, but it can be calculated from the average of retail purchase price for the farmer.

Comparability in prices of the products and means of production depends on specific characteristics of the products (e.g. packing, quality factors, delivery conditions). These characteristics influence the price level of a specific product or means of production. Strict comparability between Member States would require that these characteristics are the same for all the prices collected in each country, which is unrealistic.

Therefore, the agreed price measurement considers only the marketing stage, the treatment of taxes, levies and subsidies and the common target definitions, limited to the most important characteristics determining prices.

The statistical units are the trade transactions that the farmer actually undertakes. Prices should be recorded at points that are as close as possible to these transactions, the output prices at the first marketing stage (from the producer to the trade) and the input prices at the last marketing stage (from the trade to the producer).

The transactions by the national farm, as a single holding treating the whole agricultural sector, are intended to be represented in the EU absolute prices.

The agricultural prices refer to the Member States (national level).

The reference period is the calendar year.

Not available.

The absolute prices are expressed in national currency by the Member States. They are converted into Euros for those Member States outside the Eurozone.

The quantities, which the prices refer to, are expressed:

  •  for crops, in 100 kg or 100 litres (liquid products such as olive oil and wine);
  •  for livestock, in 100 kg live weight or per head;
  •  for animal products, in 100 kg (including milk and honey), 100 kg carcass weight (meat), or 100 pieces (eggs);
  •  for means of production, in 100 kg, except for electricity (in 100 kWh) and heating gas oil, motor spirit, diesel oil (in 100 litres).

Absolute Prices are published in National Currency and in Euro.

Further operations are not performed, as EU aggregates are not computed for agricultural absolute prices.

The main sources of agricultural prices used to generate the absolute prices are:

  • Samples of producers selling directly to the consumers;
  • Records of transaction as part of an administrative process;
  • Administered prices;
  • Enquiries to bodies purchasing agricultural products or selling means of production.

Annual.

Absolute prices are agreed to be sent to Eurostat 60 days after the end of the reference year.

Euro is the common currency for comparisons among the Member States. Comparability of the time series is improved by converting the prices expressed in national currency into Euro (from 1st January 1999 onwards) or ECUs (until 31st December 1998).

Fixed conversion rates of former national currencies into Euro were applied for Eurozone, whereas the conversion rates are updated annually for the other countries.