The total agricultural operating surplus in Ireland, the difference between revenue and expenditure for farmers, increased by 25% last year to €4.6 billion, according to the Central Statistics Office (CSO).
But latest output, input and income in agriculture estimates for 2022 from the CSO also show that the cost paid by Irish farmers for fertilisers almost doubled last year to €1.2 billion.
The cost of fertilisers to farmers increased by an estimated 137% in 2022 according to latest figures released by the CSO today (Thursday, March 9) .
The preliminary estimates for 2022 are less “favourable” than previous CSO estimates, with the overall value of agricultural outputs lower than originally estimated and consumption costs higher.
According to Mairead Griffin, statistician with the CSO, the overall value of agricultural output is estimated to have increased by €2.5 billion to €12.6 billion in 2022 – which is 2% less than the CSO original estimates.
The statistics office has attributed this jump in value because of “large increases in the price of agricultural outputs”.
Meanwhile, intermediate consumption costs in 2022 also increased by 26% to €7.7 billion – which is €63 million higher than original CSO estimates for the year.
Although the statistics office has stressed that the latest figures for output, input and income in agriculture are “preliminary estimates”, they do highlight the different journey for certain sectors of agriculture during 2022.
The figures show that:
- The value of milk rose by 46% to €5 billion;
- The value of livestock rose by 14% to €4.5 billion;
- Crop values rose by 13% to €2.4 billion.
According to the CSO it reduced its estimate of the value of livestock by €106 million to €4.5 billion, a rise of 14% on 2021.
It also highlighted that the value of cattle, sheep and horses were all lower than originally estimated.
It said that its revised measure of the value of milk last year had risen to €5 billion, which represented an annual increase of 46%.
“While there is little change to our original valuation of cereals, which remains at €649 million, our estimate of the value of other crops has fallen by €22 million to €593 million. The revised value of all crops is now €2.4 billion, up 13% on 2021,” the CSO said.
According to the CSO there was a “minimal change” to its first estimate of feeding stuffs, which remains at €2.4 billion, reflecting a rise of 31% on 2021 figures.
Meanwhile, the statistics office has also increased its 2022 estimates for the cost of energy and lubricants to €662 million which is 45% higher than in 2021.