The agricultural output price index decreased by 4% in April this year, compared to March, according to figures from the Central Statistics Office (CSO).

In the same period, the input price index also decreased, but only by 0.5%. This results in a decrease in terms of trade of 3.5% over the two months.

The terms of trade also decreased on an annual basis (April 2019 to April 2020) by 0.5%. This was accounted for by a 4.4% decrease in the output price index, and a 3.9% decrease in the input price index.

Looking into the output index in more detail, we see that the animal sub-index fell 4.7% from March to April this year.

On an annual basis (April 2019 to April 2020), the animal output sub-index decreased by 1.1%. This included increases for calves (9.3%); pigs (20.7%); sheep (3.1%); and poultry (1.3%); while cattle (excluding calves) decreased by 2.1%.

For animal products, milk decreased by 5.1% monthly and 6% annually; eggs increased by 1.6% monthly and decreased by 0.6% annually; and wool was unchanged on a monthly basis but saw a substantial annual decrease of 17.9%.

For crops, cereals (including seeds) were unchanged on a monthly basis, but on an annual basis plunged by 27.5%; vegetables fell by 1.9% annually (no information was available for the monthly figure); while potatoes (including seeds) plummeted by 38.4% annually (again, no information was available for the monthly figure).

Turning attention to the input price index breakdown, seeds, while unchanged between March and April of this year, decreased by 7.1% from April 2019 to April 2020.

Electricity decreased by 1.2% on a monthly basis and saw a 1.5% decrease annually; motor fuels decreased by 9.4% monthly and 14.6% annually; while lubricants increased by 2.1% monthly and 2.9% annually.

Plant protection products increased by 0.1% monthly and by 0.6% annually, and veterinary expenses showed no change on a monthly basis, but increased 1.4% annually.

Maintenance of materials and buildings also showed no change on a monthly basis, and increased very marginally by 0.7% annually, while for other goods and services, the input sub-index decreased by 0.2% monthly and also by 0.7% annually.