Fertiliser prices have increased by 149% within one year, and are up by 11.7% in March 2022 compared to February 2022, according to recent figures published by the Central Statistics Office (CSO).
Increases can also be seen in energy prices, which rose by 54.9% and in feed prices, which are up by 22.6% compared to March 2021, the CSO figures published today (Wednesday, May 11) show.
Furthermore, the agricultural input price index is up by 34.8%, while the output price index increased by 21.8% compared to the same month in 2021.
Between February and March 2022, the agricultural output price index rose by 4.7% and the input price index by 6.7%.
The monthly input sub-indices saw a growth in energy prices (21.8%) and feed prices (3.1%), according to statistician, Anthony Dawson.
The annual terms of trade was down by 9.7% compared to March 2021, and the monthly terms of trade was down by almost 2% in the month of March 2022, according to the CSO.
“Increases can also been seen in the output price sub-indices where the monthly price of milk has risen by 6.1% in the month from February 2022 and is up more than 32% in the year, while cattle prices are up more than 22% annually,” Dawson said.