The agricultural output of England and Wales 1925

Bibliographic data

Monograph

Identifikator:: 1757028552

URN:: urn:nbn:de:zbw-retromon-135495

Document type:: Monograph

Title:: The agricultural output of England and Wales 1925

Place of publication:: London

Publisher:: Stat. Off.

Year of publication:: 1927

Scope:: XV, 152 Seiten; graph. Darst., Kt.

Digitisation:: 2021

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XI. Agricultural prices

Collection:: Economics Books

29 commodity prices, but slightly less rapidly. The same factors that operated to promote conditions of prosperity when prices were rising produced the reverse conditions when they were falling. Just as during 1914 to 1920 prices of produce moved upwards more quickly than the costs of production, so now they fell more rapidly, and owing to the long period of turnover, the farmer usually sold his produce in a market where prices were much lower than he had expected, and possibly in the majority of cases below the cost of production. Up to the autumn of 1922 the decline in agricultural prices was fairly uniform, but with the harvest of that year a new factor was introduced in the heavy fall of corn prices which in August and September had reached a level considerably below that of other agricultural products. This was due mainly to the large increase in the pro- duction of cereals in the United States and Canada, and partly bo the poor quality of the home crops. The subsequent period (1923-1925) was one of comparative stability, the sharp fall in general commodity prices having come to an end. Apart from this, the outstanding feature was the relatively low price of cereals in 1923, which was the main cause of the low point indicated on the vegetable products curve in Diagram VIII. Renewed competition after the war, combined with good harvests and a partial recovery of corn production in Europe, resulted in a relative excess of supply, which was in part due to the low purchasing power of certain importing countries. A depression of arable farming in Great Britain and a sharp contraction of the arable acreage was consequently a conspicuous feature of this period. Subsequently to 1923 there was a recovery in wheat prices, which in 1924 had reached an average price of 52 per cent. above pre-war, and in 1925 60 per cent. above pre-war. It thus stood at approximately the same level as the general average of agri- cultural prices. Barley also recovered, but the price of oats continued at a low level, influenced by the low prices of imported feeding stuffs. The average price of potatoes, both in 1924 and 1925, remained exceptionally high owing to relatively small yields. Live stock and dairy produce, though subject to some fluctuations, maintained on the whole a more favourable position than cereals, while fruit and vegetables generally showed not unsatisfactory results. An average index number has been calculated for these three groups of commodities, viz. (1) live stock, dairy produce, poultry, eggs and wool; (2) cereals and other farm crops; (3) fruit, vegetables, etc., for each year from 1920 to 1925, from which it is possible to judge to some extent the relative position of different branches of the industry.

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