The second estimate by the CSO of operating surplus in agriculture in 2014 shows an annual increase of 5.6%.
This follows an increase of 1.1% in 2013. The estimate for 2014 is based on the data currently available for the year.
Comparison of 2014 with 2013 shows the following changes in estimated value:
- Goods output at producer prices decreased by 2.6% or €191.6m, to reach €7,057.1m;
- Cattle output decreased by 6.6% or €141.2m;
- Milk output increased by 0.7% or €15.4m;
- Sheep output increased by 14.2% or €29.0m;
- Total intermediate consumption decreased by 6.2% or €354.4m;
- Expenditure on commercial feedingstuffs decreased by 17.6% or €283.1m;
- Expenditure on fertilisers decreased by 7.9% or €48.3m.
The CSO recently released figures on agricultural output prices that showed they decreased by 8.3% in 2014 compared with 2013.
These figures shows that the agricultural input price index was down 4.5% over the same period. Thus, it says that the resulting terms of trade index decreased by 4.0% in 2014. The main drops in output price were in potatoes (-51%) and crops (-21%). Across animals, sheep and calves were the only sectors to record an increase in output price, of 2.6% and 2.5% respectively.
The figures for 2014 are a preliminary estimate, which is provisional and is based on the latest available data.