Milk prices decreased by over 38% in October 2023 when compared to the same month last year, according to the latest data from the Central Statistics Office (CSO).
In the 12 months to October 2023, the Agricultural Output Price Index has dropped 16.7%, while the Agricultural Input Price Index was down by 14.8% over the same period.
The Agricultural Price Indices October 2023, published today (Monday, December 11), shows that cereal prices were down by 31.6% in a year and cattle prices were down slightly (-0.5%).
However, pig prices rose by 9.6% in the 12-month period, sheep were up 2.3%, poultry rose 3.6% and egg prices were up by almost 7%.
The price of potatoes increased by 65.7% and vegetables were up by 14.6%.
CSO
Over the 12 months to October 2023, the CSO noted that there were significant reductions in the input prices recorded for fertiliser (-47%), feed (-11.1%), and energy (-6.7%).
Electricity prices were down by 5.3%, motor fuels fell by 7.4% and the price lubricants was down by 3.8%.
The cost of veterinary expenses for farmers increased by 6% in the year up to October 2023, while the cost of plant protection products rose by 7.6%.
Commenting on the data Donal Kelly, senior statistician in the CSO Agriculture Division, said:
“The latest results for October continue the general downward trend in both the input and output price indices since the start of the year.
“On a monthly basis, the Agricultural Output Price index was down by 1.3%, while the Agricultural Input Price index fell by 0.8%, when compared with September 2023.
“The most noticeable monthly decreases in the output price sub-indices were in the price of pigs which fell by 4.6% and cattle by 2.6%, compared with September 2023.
“The monthly input price sub-indices show a decline of 2.1% was recorded in feed prices, while electricity prices were down by 1.7%,” he said.