Farm Product Price Index (FPPI)
Farm product prices of farm, index
Farm product prices refers to prices received by farmers from the sale of agricultural products. Prices are collected at point of first transaction, where fees deducted before a producer is paid are excluded (for example, storage, transportation, and administration costs), but any bonuses and premiums that can be attributed to specific commodities are included. Commodity-specific program payments are not included in the price.
Farm refers to an agricultural operation that produces at least one of the following products intended for sale: crops (hay, field crops, tree fruits or nuts, berries or grapes, vegetables, seed); livestock (cattle, pigs, sheep, horses, game animals, other livestock); poultry (hens, chickens, turkeys, chicks, game birds, other poultry); animal products (milk or cream, eggs, wool, furs, meat); or other agricultural products (Christmas trees, greenhouse or nursery products, mushrooms, sod, honey, maple products).
The data for this variable are reported using the following measurements:
- Index using the value of a base year made equal to 100
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