The agricultural price index increased by 13.4% in May 2021 compared to the same month last year, according to the latest figures from the Central Statistics Office (CSO).
In findings published today (Tuesday, July 13), the agricultural input and output price indices gave an insight into where prices are at the farm gate at present.
According to the CSO, the agricultural output price index increased by 2.1% in May 2021 compared with April 2021.
The agricultural input price index increased by 1.3% over the same period. Thus, the resulting terms of trade index was up 0.8% in this period.
On an annual basis, the agricultural input price index increased by 7.4% in May 2021 compared with May 2020.
The agricultural output price index increased by 13.4% in May 2021 compared with May 2020.
A further comparison of the May 2021 output sub-indices with the May 2020 sub-indices shows that sheep and milk increased by 29.8% and 20.3% respectively.
The cattle output index saw an increase of 14.5% overall; this comprised an increase of 14.6% for the category “cattle excluding calves” and 7.7% for the calves category, when comparing May 2021 to May 2020.
Meanwhile, the pigs output price index decreased by 5.3%. Wool increased by 13.7% in index, while eggs saw a more moderate increase of 4.2%.
On the crops side of things, overall the crop output index increased by 2.8%; cereals rose by 5.8% while vegetables and potatoes saw more muted lifts of 0.6% and 1.4% respectively in index.
On the input side for farm enterprises, according to the CSO, the May 2021 sub-indices show that energy and fertilisers were up 18.2% and 14.6% respectively on May 2020 prices.
The increase in the energy input price index was primarily driven by motor fuels, which saw a jump of 22.5% in index, though there were smaller increases also of 9.4% and 3.2% for electricity and lubricants respectively.
Feeding stuffs increased by 8.5% overall, while seeds rose by 9.4% in index.