Agri input price index up 4.9% in first 6 months of 2018

The agricultural input price index increased by 4.9% in June 2018 compared to June 2017, according to the latest statistics released by the Central Statistics Office (CSO).

Over the same period, the agricultural output price index decreased by 3.3%, reflecting a rough year for farmers nationwide.

This resulted in the ‘Terms of Trade’ index dropping by 7.8%, with stats reflecting the squeeze felt by farmers on their pockets.

Meanwhile, on a monthly basis, the agricultural input price rose by 0.6% in June 2018 compared with May 2018. The agricultural output price index increased by 0.4% over the same time frame.

Source: Central Statistics Office

The resulting terms of trade index decreased by 0.3% in June 2018, according to the CSO.

Outputs

A further comparison of the June 2018 output sub-indices with the June 2017 sub-indices shows that pigs and milk decreased by 15.1% and 5.7% respectively.

Output price for calves fell by 15.5% over the course of the year.

Cattle overall, however, rose by 0.7%, while sheep saw a 3.7% jump over the same period; meanwhile, cereals rose by 5.5%.

Inputs

On the input side, the largest increase was in energy which was up 13.8% on June 2017 prices.

The input price index for fertilisers rose by 4.5% overall, veterinary expenses climbed by 3.1%, while plant protection products saw a 0.5% increase in price index.

Feeding stuffs saw a hike in price index by 6.5%; straight feeding stuffs in particular saw a considerable rise in index – some 11.3%.

Material and building maintenance crept up by 2% in index.