Crop output price down by 2.5% according to latest CSO figures

Crop output prices decreased by 2.6% between October 2020 and November 2020, according to the latest figures from the Central Statistics Office (CSO).

The agricultural output price index decreased by 0.2% in November 2020 compared with the previous month. The agricultural input price index increased by 0.4% over the same period.

As a result, the terms of trade index was down 0.6% in this period.

The indices monitor trends in prices paid to farmers for their produce and in prices paid by farmers for purchases of goods and services.

An EU harmonised methodology is used to compile the price indices. The estimates are also sent to Eurostat – the Statistical Office of the European Union.

Source: CSO Ireland

Input prices

On an annual basis, the agricultural input price index decreased by 1.4% in November 2020 compared with November 2019.

On the input side, the November 2020 figures show that fertilisers and energy were down 11.6% and 10.1% respectively on November 2019 prices.

Veterinary expenses also increased in the year by 1.4% while seed prices decreased by 6%.

Output prices

The agricultural output price index increased by 3.4% in November 2020 compared with November 2019.

A further comparison of the November 2020 output figures with the November 2019 sub-indices, shows that sheep and cattle increased by 15.0% and 7.1% respectively.

While cereal crop output increased by 1.4% year on year, the monthly difference in November 2020 showed a decrease.

There was a drop of 2.6% in cereal crop prices between October and November 2020.

The wool sector also experienced a significant decrease in output prices – two thirds (-66%) between November 2019 and November 2020.