The Turkish Statistical Institute has announced that the Agricultural Input Price Index (Agricultural-IPI) saw a substantial increase of 32.92% annually and 1.41% monthly as of November 2024.

According to the Institute's statement released on Tuesday, the Agricultural-IPI, using 2020 as the base year (2020=100), increased by 1.41% compared to the previous month. The index also rose by 29.72% compared to December of the previous year and by 32.92% compared to the same month of the previous year. Additionally, it showed an increase of 41.64% compared to the twelve-month moving averages.

In terms of monthly changes by main groups, goods and services currently consumed in agriculture increased by 1.43%, while goods and services contributing to agricultural investment rose by 1.25%. On an annual basis, goods and services currently consumed in agriculture saw a 31.52% increase, and goods and services contributing to agricultural investment experienced a 41.65% rise.

The subgroup "Other goods and services" indicated the highest annual rate of change with a 61.87% increase, while "Animal feedingstuffs" recorded the highest monthly rate of change, increasing by 2.36%.

These figures highlight the ongoing challenges faced by the agricultural sector in managing input costs and maintaining profitability. (ILKHA)