Canadian Farmers See Easing Prices

OTTAWA - Jun 22/04 - SNS -- Average prices received for all agricultural commodities during April were down sharply from year earlier levels and slightly below March, according to the latest Farm Product Price Index (FPPI) calculations by Statistics Canada.

Improved returns for oilseeds, hogs, poultry, eggs and dairy were unable to offset steep declines in average returns for other grains, fruits and vegetables. As a result the FPPI declined 9.7% in April compared with April 2003 and inched 0.2% below the previous month.

The crop index was down 14.4% from its April 2003 level of 108.0, continuing the monthly year-over-year decreases that began last July.

The livestock and animal products index was down 5.6% from a year earlier, marking the eleventh consecutive year-over-year decrease. The only crop index that recorded an increase compared with April 2003 was oilseeds. The only livestock and animal products index that recorded a decrease was the cattle and calves index.

The FPPI (1997=100) stood at 98.1 in April, down a slight 0.2% from the revised March index. The total index had peaked in February 2003 at 111.3, and then slid to the recent low of 93.8 in September.

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