Cereal prices were down by 31.4% in July, when compared to the same month in the previous year, according to the Central Statistics Office (CSO).
The latest data published today (Friday, September 13) shows that in the 12 months to July 2024, the Agricultural Output Price Index dropped rose by 8.8% overall.
Over that period, the price of industrial and forage crops decreased by 26.4%, eggs dropped by 3.7% and poultry prices were back 1.1%
However, there were price increases recorded for potatoes (up 34.9%), milk (22.3%), vegetables (8.1%).
CSO
The CSO data shows that the Agricultural Input Price Index dropped by 6.8% in the year up to July 2024.
Over the 12 months to July 2024, there were significant reductions in prices for electricity (-20.6%), feed (-15.2%), and fertilisers (-7.9%).
While motor fuel rose by 10.8%, plant protection products increased 4.8% and veterinary expenses were up 4.1%.
Commenting on the data, Dr Nele van der Wielen, statistician in the agriculture division in the CSO, said:
“From June 2024 to July 2024, the monthly Agricultural Output Price Index increased by 0.1%, while the Input Price Index decreased by 0.9%.”
The monthly terms of trade, which is defined as the ratio between the index of export prices and the index of import prices, grew by 1.0% in July 2024 when compared with the previous month.
The annual terms of trade went up by 16.7% when compared with July 2023.