The agricultural output price index decreased by 8.3% in 2014 compared with 2013, according to the latest figures from the CSO.
It 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.
On a monthly basis, the agricultural output price index increased by 1.5% in December 2014 compared with November 2014. The agricultural input price index was down 0.3% in December 2014 compared with November 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.
In terms of input prices, straight feed dropped by 17% in 2014 the CSO says, while the main increases were in electricity prices (3.6%) and veterinary costs (2.1%).
CSO figures also showed that agricultural output prices fell 10.9% over the period November 2013 to November 2013.
The figures show large falls over the period in output prices for milk (-19%), cereals (-11%) and cattle (-3.9).
The indices monitor trends in prices paid to farmers for their produce and in prices paid by farmers for purchases of goods and services.