Turkish agricultural product prices surge 46.91% year-on-year

According to the Turkish Statistical Institute, the index rose by 8.88% compared to the previous month and surged by 46.91% compared to the same month of the previous year. On a cumulative basis, the index increased by 37.55% since December 2023 and by 48.83% when measured over a twelve-month moving average.

Breaking down the changes by sector, the index for agriculture, hunting, and related services showed a monthly rise of 9.35%, while forestry and logging services increased by 1.59%. The fishing and aquaculture sector also saw a modest increase of 1.70%.

Among the main product groups, non-perennial crops experienced the most significant growth, with a monthly increase of 19.49%. Perennial crops followed with a 4.91% rise, and live animals and animal products saw a 2.93% increase.

Citrus fruits stood out as the subgroup with the highest annual rate of change, soaring by an extraordinary 263.86%. Vegetables, melons, roots, and tubers led the monthly changes with an increase of 43.95%, the highest among all subgroups.

These figures underscore the considerable cost pressures facing Türkiye's agricultural sector, which could have implications for consumer prices and overall food affordability. (ILKHA)