The agricultural input price index dropped by 12.6% in the 12 months up to April 2024, according to the latest Central Statistics Office (CSO) figures.

These figures show that the agricultural output price index was down by 0.2% over the same period.

The terms of trade increased by 0.7% compared with March 2024 and was up by 14.2% in the year to April 2024.

Output prices

The most significant output price decreases in the 12 months to April 2024 were in cereals, which experienced a decrease of 31.4%.

Industrial and forage crops, pigs and eggs were down 26.4%, 6.2% and 3.7% respectively, while increases were recorded in potatoes, sheep and vegetables.

Potatoes saw a sharp increase of 73.6%, sheep saw a rise of 27.1% and vegetables increased by 11.7%.

Fertiliser price fell

The figures show that the price of fertiliser fell by almost one third over the 12-month period, down 31.4%. Electricity inputs saw a decrease of 22.2% and feed inputs were down 16.8%.

Motor fuel saw an increase of 10.1%.