Chapter 6: Prices
Published 10 July 2025
© Crown copyright 2025
This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. To view this licence, visit nationalarchives.gov.uk/doc/open-government-licence/version/3 or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: psi@nationalarchives.gov.uk.
Where we have identified any third party copyright information you will need to obtain permission from the copyright holders concerned.
This publication is available at https://www.gov.uk/government/statistics/agriculture-in-the-united-kingdom-2024/chapter-6-prices
Summary
- The annual average price index for all agricultural outputs increased by 2.5% from 2023 to 2024.
- The largest upward contribution to the annual inflation rate for agricultural outputs was from potatoes (1.6 percentage points), followed by sheep and lambs (1.2 percentage points) and milk (0.9 percentage points). The main downward contribution came from poultry (-1.3 percentage points).
- The annual average price index for all agricultural inputs decreased by 6.0% from 2023 to 2024.
- The largest downward contribution to the annual inflation rate for agricultural inputs was from compound feedingstuffs (-2.7 percentage points), followed by fertilisers and soil improvers (-1.9 percentage points) and energy and fuel (-1.1 percentage points). The main upward contribution came from materials (0.4 percentage points).
Data sources
The Agricultural Price Index (API) measures the monthly and annual price changes in agricultural outputs and inputs for the UK. The API datasets can be found on the API web page.
Outputs:
- The output series reflects farm-gate prices, which are the prices farmers receive for their products.
- Information is collected for all major crop categories (e.g., cereals, fruits, vegetables) and livestock/animal products (e.g., sheep, milk, eggs).
Note: The price index for poultry is based on deadweight prices reported by processors. These prices are not directly comparable with poultry prices referenced in Chapter 8 which estimate the cost to producers.
Inputs:
- The input series reflects the prices farmers pay for various goods and services.
It is further divided into two categories:
- Goods and services currently consumed: These are items used up during production, such as fertiliser or seeds.
- Goods and services contributing to investment: These are items necessary for production but not consumed directly, such as tractors or farm buildings.
Trends in annual price indices
Figure 6.1: Annual average price indices for agricultural outputs and inputs from 2014 to 2024 (2020 = 100)
Enquiries: prices@defra.gov.uk
| Year | All agricultural outputs | All agricultural inputs |
|---|---|---|
| 2014 | 95.2 | 94.4 |
| 2015 | 86.4 | 89.7 |
| 2016 | 85.5 | 87.3 |
| 2017 | 93.6 | 92.8 |
| 2018 | 99.6 | 100.2 |
| 2019 | 96.2 | 101.6 |
| 2020 | 100.0 | 100.0 |
| 2021 | 110.0 | 111.4 |
| 2022 | 130.7 | 143.3 |
| 2023 | 132.3 | 135.8 |
| 2024 | 135.6 | 127.7 |
Download the full Prices dataset
Figure 6.1 shows the annual average price indices for agricultural outputs and inputs since 2014. Compared with 2023, the annual average price index for agricultural outputs in 2024 increased by 2.5% while agricultural inputs decreased by 6.0%.
Contributions to change in the annual agricultural outputs and inputs inflation rate
Figure 6.2: Contributions to change in the agricultural outputs annual inflation rate between 2023 and 2024 (2020 = 100)
Enquiries: prices@defra.gov.uk
| Category | Contribution (percentage points) |
|---|---|
| Potatoes | 1.64 |
| Sheep and lambs | 1.15 |
| Milk | 0.93 |
| Cattle and calves | 0.77 |
| Fresh fruit | 0.27 |
| Eggs | 0.27 |
| Forage plants | 0.11 |
| Oats | 0.03 |
| Oilseed rape | 0.01 |
| Sugar beet | -0.02 |
| Pigs | -0.23 |
| Barley | -0.28 |
| Fresh vegetables | -0.29 |
| Wheat | -0.61 |
| Cereals | -0.87 |
| Poultry | -1.29 |
Notes:
- Not all agricultural output categories are shown in Figure 6.2. Therefore, the sum of the contributions in Figure 6.2 may be slightly less than the annual inflation rate.
Download the full Prices dataset
Figure 6.2 shows the contributions to the 2.5% change in the agricultural outputs inflation rate between 2023 and 2024.
Nine of the fifteen output categories made positive contributions to the annual inflation rate. Potatoes made the largest contribution due to price increases as a result of poor weather conditions affecting planting early in the year. The next largest contribution was from sheep and lambs, which saw price increases due to a 6.9% decline in home-killed production. This fall in production was a result of delayed lambing caused by wet weather, disease pressures, and longer-term concerns over profitability. Poultry meat production saw a 2.9% increase compared with 2023, reaching over 2 million tonnes (carcase weight) for the first time. This increase in supply resulted in a negative contribution of -1.3 percentage points to the annual inflation rate compared to 2023, which saw a historically high price for poultry.
Figure 6.3: Contributions to change in the agricultural inputs annual inflation rate between 2023 and 2024 (2020 = 100)
Enquiries: prices@defra.gov.uk
| Category | Contribution (percentage points) |
|---|---|
| Materials | 0.38 |
| Maintenance of materials | 0.36 |
| Veterinary services | 0.15 |
| Other goods and services | 0.09 |
| Buildings | 0.07 |
| Seeds | 0.01 |
| Maintenance of buildings | -0.06 |
| Plant protection products | -0.44 |
| Straight feedingstuffs | -0.87 |
| Energy and fuel | -1.10 |
| Fertilisers and soil improvers | -1.88 |
| Compound feedingstuffs | -2.67 |
Download the full Prices dataset
Figure 6.3 shows the positive and negative contributions to the 6.0% change in the agricultural inputs inflation rate between 2023 and 2024.
Materials and maintenance of materials made the largest positive contribution to the annual inflation rate in 2024, with high prices from 2023 continuing into early 2024. Compound feedingstuffs made the largest negative contribution, driven by price reductions in key ingredients such as wheat, barley, and maize.
Trends in agricultural outputs price indices through the year
Figure 6.4: Monthly cereals price index 2023 and 2024 (2020 = 100)
Enquiries: prices@defra.gov.uk
Text description for Figure 6.4: Line chart showing the Cereals Price Index from January 2023 to December 2024. In 2023, the index starts high, declines steadily until mid-year, then rises slightly and fluctuates through the rest of the year, ending lower than it began. The 2024 line begins at a lower point and follows a more volatile path, with an early-year dip, a mid-year peak, and a gradual decline toward the end of the year. Overall, 2024 shows greater fluctuations compared to 2023’s more gradual movements.
Download the full Prices dataset
The annual price index for cereals decreased by 7.0% in 2024 compared with 2023.
UK cereal prices are primarily driven by global commodity market trends shaped by exchange rates and world prices. In 2024, the decrease in cereal prices was driven by trends in international supply and demand and currency strength, as well as domestic factors. Domestically, waterlogged fields early in the crop year impacted winter wheat conditions, resulting in a 2024 harvest of 11.1 million tonnes, down 20% from 2023. This marked the smallest wheat harvest since 2020, with both area and yield falling below the five-year average. Area decreased by 11% and yield dropped by 10% to 7.3 tonnes per hectare. Production was down across all UK nations in comparison to 2023.
Figure 6.5: Monthly oilseed rape price index 2023 and 2024 (2020 = 100)
Enquiries: prices@defra.gov.uk
Text description for Figure 6.5: Line chart showing the Oilseed Price Index from January 2023 to December 2024. In 2023, the index starts high and declines sharply until May, followed by a modest recovery and general decline for the rest of the year. In contrast, 2024 begins at a lower level but shows a gradual upward trend, with notable increases from mid-year onward and a sharp rise in the final quarter, ending well above the December 2023 index.
Download the full Prices dataset
The annual price index for oilseed rape increased by 0.4% in 2024 compared with 2023.
This increase was primarily driven by a 32% drop in UK production to 824 Kt, resulting from a 25% reduction in planted area and a 10% decline in yield. These decreases were caused by extreme weather conditions, including a historically wet period from September to May in the previous season, and ongoing pest pressure. Additionally, constrained global supply supported UK prices throughout 2024.
Figure 6.6: Monthly cattle price index 2023 and 2024 (2020 = 100)
Enquiries: prices@defra.gov.uk
Text description for Figure 6.6: Line chart showing the Cattle Price Index from January 2023 to December 2024. In 2023, the index rises steadily in the first half of the year, dips slightly in July, and recovers toward the end, finishing higher than it started. The 2024 line begins slightly higher than in 2023 and maintains a relatively steady upward trend, with sharper increases in the final quarter. Overall, both years show rising trends, but 2024 exhibits stronger and more sustained growth in cattle prices, especially in the second half.
Download the full Prices dataset
The annual price index for cattle increased by 5.6% in 2024 compared with 2023.
In 2024, UK beef prices reached historic highs despite a 3.8% increase in home-fed production, driven by strong consumer demand. Prices were further supported by expectations of tighter global and domestic cattle supplies in 2025.
Figure 6.7: Monthly sheep price index 2023 and 2024 (2020 = 100)
Enquiries: prices@defra.gov.uk
Text description for Figure 6.7: Line chart showing the Sheep Price Index from January 2023 to December 2024. In 2023, the index starts relatively low, climbs sharply in spring to peak in May, then declines steadily through to September, ending the year higher than it started. In 2024, the index starts higher than the previous year and rises rapidly to a pronounced peak in April and May, before declining through to October rising again to the end of the year. Compared to 2023, 2024 shows a steeper and earlier rise, with overall higher price levels and more seasonal variation.
Download the full Prices dataset
The annual price index for sheep increased by 21% in 2024 compared with 2023.
In 2024, the UK sheep market experienced strong prices, following typical seasonal trends, with increased demand driving higher prices around major religious festivals. Deadweight lamb prices reached historic highs, driven by a 6.9% decline in home-killed production, as a result of disease pressures early in the year, and wet weather conditions that disrupted spring lambing. Strong consumer demand further supported prices throughout the year.
Figure 6.8: Monthly pigs price index 2023 and 2024 (2020 = 100)
Enquiries: prices@defra.gov.uk
Text description for Figure 6.8: Line chart showing the Pigs Price Index from January 2023 to December 2024. In 2023, the index rises steadily through the first half of the year, peaking in late July, then gradually declines toward the end of the year. In 2024, the index starts slightly lower and remains relatively flat throughout the year, with a slow and consistent decline over time. Overall, 2023 shows a clear upward then downward trend, while 2024 reflects a period of price stability with a gentle downward trend.
Download the full Prices dataset
The annual price index for pigs decreased by 3.7% in 2024 compared with 2023.
The decrease in deadweight pig prices was primarily driven by a 3.7% increase in domestic home-killed production. Despite this decline, the 2024 GB standard pig price remained 23% above the five-year average. Increased production was driven by higher average carcase weights and increased productivity from sows within the breeding herd.
Figure 6.9: Monthly milk price index 2023 and 2024 (2020 = 100)
Enquiries: prices@defra.gov.uk
Text description for Figure 6.9: Line chart showing the Milk Price Index from January 2023 to December 2024. In 2023, the index begins at a high point and declines steadily through to mid-year, followed by a slow recovery from July to December. In contrast, 2024 shows a steady upward trend throughout the year, with noticeable gains in the final quarter, ending substantially higher than the December 2023 index.
Download the full Prices dataset
The annual price index for milk increased by 4.5% in 2024 compared with 2023.
Farm-gate milk prices remained stable in the first quarter of 2024, averaging 38.8 pence per litre (ppl), which was 17% lower than the historically high first-quarter price in 2023. Prices began to rise in late spring, supported by strengthened dairy commodity values due to reduced global dairy product supply. By the second half of the year, UK milk production increased, with a 4.4% rise in domestic production in the fourth quarter compared to 2023.
Figure 6.10: Monthly egg price index 2023 and 2024 (2020 = 100)
Enquiries: prices@defra.gov.uk
Text description for Figure 6.10: Line chart showing the Egg Price Index from January 2023 to December 2024. In 2023, the index saw a large increase in Q2. It rose again in Q3 and made a smaller increase in Q4. In 2024, the pattern continued, starting higher than in 2023, with a moderate rise in Q2, followed by smaller increases in Q3 and Q4.
Download the full Prices dataset
The annual price index for eggs increased by 6.7% in 2024 compared with 2023.
Farm-gate egg prices remained elevated in 2024 despite historically high UK production of 1.006 billion dozen eggs for human consumption, a 4.4% increase from 2023. The rise in prices was driven by a continuing shift in demand, with consumers increasingly favouring higher welfare products. Egg packer intake of lower-cost enriched eggs decreased from 23% in 2023 to 20% in 2024, while intake of higher-cost free-range eggs increased from 60% to 68% over the same period.
Figure 6.11: Monthly potatoes price index 2023 and 2024 (2020 = 100)
Enquiries: prices@defra.gov.uk
Text description for Figure 6.11: Line chart showing the Potatoes Price Index from January 2023 to December 2024. In 2023, prices rise gradually from January to March, dip sharply in April, then jump back up in May and remain stable through June and July. A strong peak occurs in August, followed by a steady decline to October where prices begin to rise again for the rest of the year. In 2024, prices increase sharply from January to May, peaking in May, then largely decline sharply from June through December, ending the year much lower than they began. Overall, the chart shows significant price volatility with sharp peaks in late summer 2023 and mid-spring 2024.
Download the full Prices dataset
The annual price index for potatoes increased by 41% in 2024 compared with 2023.
In 2024, potato prices in the UK peaked in May due to tight supplies from the previous season and delays in planting. However, prices declined later in the year as a successful 2024 harvest increased availability.
Trends in agricultural inputs price indices through the year
Figure 6.12: Monthly fertilisers and soil improvers price index 2023 and 2024 (2020 = 100)
Enquiries: prices@defra.gov.uk
Text description for Figure 6.12: Line chart showing the Fertilisers and Soil Improvers Price Index from January 2023 to December 2024. In 2023, prices start high in January and steadily decline through to July, then level off with minor fluctuations for the rest of the year. In 2024, prices remain relatively stable, with a slight gradual decline from January to October before leveling off toward the end of the year. Overall, the chart depicts a clear downward trend in fertiliser prices from early 2023, followed by stabilisation in the second half of 2023 through to 2024.
Download the full Prices dataset
The annual price index for fertilisers and soil improvers decreased by 19% in 2024 compared with 2023.
After historically high prices in the previous two years, fertiliser prices decreased in 2024 compared to 2023 and remained relatively stable throughout the year. This decline was primarily driven by decreases in the cost of gas, a key input for fertiliser production, compared to 2022 and 2023. While lower prices led to increased fertiliser applications per unit area, this was offset by reductions in key crop areas, including an 11% decrease in wheat area and a 15% decrease in winter barley area.
Figure 6.13: Monthly energy and fuel price index 2023 and 2024 (2020 = 100)
Enquiries: prices@defra.gov.uk
Text description for Figure 6.13: Line chart showing the Energy and Fuel Price Index from January 2023 to December 2024. In 2023, prices start high and decline steadily through to July, then rise in August and September before gradually falling again towards the end of the year. In 2024, prices fluctuate mildly with a small rise in March followed by a steady decline through to September, ending the year slightly higher than the lowest point.
Download the full Prices dataset
The annual price index for energy and fuel decreased by 11% in 2024 compared with 2023.
This decrease was primarily due to a continued fall in wholesale energy prices from highs in 2022, following increased supplies and balancing global demand. Crude oil prices dropped from $82.95 per barrel in 2023 to $79.89 per barrel in 2024, a 3.7% reduction, while red diesel prices fell from 89.05 ppl to 80.84 ppl, a 9.2% decrease. However, prices remained elevated compared to pre-2022 levels.
Figure 6.14: Monthly animal feedingstuffs price index 2023 and 2024 (2020 = 100)
Enquiries: prices@defra.gov.uk
Text description for Figure 6.14: Line chart showing the Animal Feedingstuffs Price Index from January 2023 to December 2024. In 2023, prices start moderately high and gradually decline throughout the year with minor fluctuations, ending lower in December. In 2024, prices continue a gentle downward trend with small month-to-month variations, stabilising towards the end of the year. Overall, the chart shows a steady decrease in animal feedingstuffs prices over the two-year period.
Download the full Prices dataset
The annual price index for animal feedingstuffs decreased by 11% in 2024 compared with 2023.
Compound feedingstuffs prices fell across the board in 2024 compared to 2023, with cattle and calf feed and poultry feed both decreasing by 11%, pig feed by 12%, and sheep feed by 13%. The decline was primarily driven by a decrease in prices for key feed ingredients, such as cereals and oilseed meals. Similarly, straight feedingstuffs prices decreased by 11% overall, in line with the reductions in crop commodity prices.
Figure 6.15: Monthly plant protection products price index 2023 and 2024 (2020 = 100)
Enquiries: prices@defra.gov.uk
Text description for Figure 6.15: Line chart showing the Plant Protection Products Price Index from January 2023 through December 2024. In 2023, prices start at a moderate level, then increase steadily during the first half of the year with a drop in August. Prices then increase sharply in September before gently declining to December. In 2024, prices begin lower than the previous year’s end, then decline throughout the year, finishing at their lowest point in December.
Download the full Prices dataset
The annual price index for plant protection products decreased by 8.5% in 2024 compared with 2023.
This was driven by lower production costs due to decreasing energy prices and the recovery of production and supply chains following disruptions caused by the COVID-19 pandemic.
Figure 6.16: Monthly maintenance of materials price index 2023 and 2024 (2020 = 100)
Enquiries: prices@defra.gov.uk
Text description for Figure 6.16: Line chart showing the Maintenance of Materials Price Index from January 2023 to December 2024. In 2023, prices fluctuated but increased steadily to December. In 2024, prices continue to rise gradually showing a consistent upward trend throughout the year.
Download the full Prices dataset
The annual price index for maintenance of materials increased by 6.5% in 2024 compared with 2023.
Farm maintenance costs for machinery and buildings rose in 2024 due to the ongoing impact of inflation on material and labour costs and continued elevation in energy prices.
Summary table of price indices
Table 6.1: Annual average price indices for agricultural outputs 2023 to 2024 (2020 = 100)
Enquiries: prices@defra.gov.uk
| Category | 2023 | 2024 | Annual inflation rate (%) |
|---|---|---|---|
| Cereals | 129.8 | 120.6 | -7.0 |
| Wheat | 124.3 | 115.0 | -7.5 |
| Barley | 140.5 | 129.6 | -7.7 |
| Oats | 152.0 | 160.3 | 5.5 |
| Oilseed rape | 113.5 | 113.9 | 0.4 |
| Sugar beet | 168.2 | 165.5 | -1.6 |
| Forage plants | 78.4 | 124.4 | 58.7 |
| Fresh vegetables | 143.2 | 137.0 | -4.3 |
| Plants and flowers | 116.4 | 116.4 | 0.0 |
| Potatoes | 163.8 | 231.1 | 41.1 |
| Fresh fruit | 108.9 | 117.4 | 7.8 |
| Cattle and calves | 137.3 | 145.0 | 5.6 |
| Pigs | 136.0 | 131.0 | -3.7 |
| Sheep and lambs | 122.1 | 147.2 | 20.6 |
| Poultry | 121.7 | 108.1 | -11.2 |
| Milk | 138.1 | 144.3 | 4.5 |
| Eggs | 162.4 | 173.3 | 6.7 |
| All agricultural outputs | 132.3 | 135.6 | 2.5 |
Download the full Prices dataset
Table 6.2: Annual average price indices for agricultural inputs 2023 to 2024 (2020 = 100)
Enquiries: prices@defra.gov.uk
| Category | 2023 | 2024 | Annual inflation rate (%) |
|---|---|---|---|
| Seeds | 106.6 | 107.0 | 0.3 |
| Energy and fuel | 167.9 | 148.8 | -11.4 |
| Fertilisers and soil improvers | 190.2 | 153.9 | -19.1 |
| Plant protection products | 125.9 | 115.2 | -8.5 |
| Veterinary services | 105.7 | 113.5 | 7.3 |
| Straight feedingstuffs | 128.1 | 114.5 | -10.6 |
| Compound feedingstuffs | 145.3 | 128.6 | -11.5 |
| Maintenance of materials | 118.6 | 126.3 | 6.5 |
| Maintenance of buildings | 138.5 | 136.6 | -1.4 |
| Other goods and services | 117.5 | 118.4 | 0.8 |
| Materials | 121.5 | 125.8 | 3.5 |
| Buildings | 138.2 | 140.0 | 1.3 |
| All agricultural inputs | 135.8 | 127.7 | -6.0 |
Download the full Prices dataset
Revisions
Figures in these tables for 2024 are provisional and may be subject to revision.
The decrease in egg prices this period is partly due to methodological changes; see Section 6.1 of the Latest Egg Statistics for further details.