Canada's FPPI Posts Small January Increase

OTTAWA - Mar 22/04 - SNS -- With the exception of specialty crops and vegetables, agricultural commodity values were slightly higher during January, with the result the Canadian Farm Product Price Index (FPPI) rose 1.8% from its December value.

Even so, Statistics Canada says the FPPI dropped 14.1 points from last year, with declines recorded in all product categories except the supply-managed sectors: poultry, eggs and dairy products.

The crop index was down 21.0% from its recent peak of 113.7 in January 2003, continuing the monthly year-over-year decreases which began last July. The livestock and animal products index was 8.1% below year-earlier levels, marking the eighth consecutive year-over-year decrease.

The FPPI (1997=100) stood at 94.2 in January, up 1.8% from December. The total index had peaked in February 2003 at 111.3, and then slid to the recent low of 92.4 in September.

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