Prices paid to potato growers soared over the 12 months to the end of February this year according to latest figures from the Central Statistics Office (CSO) today (Monday, April 15)
The latest Agricultural Price Indices, published today, shows that the price paid to farmers for potatoes increased by 75.5% between February 2023 and February 2024.
There was also a jump in the same 12 month period in prices paid to sheep farmers and also to vegetable growers.
The indices monitor trends in prices paid to farmers for their produce and in prices paid by farmers for purchases of goods and services.
According to Giselle Myles, statistician in the CSO agriculture division, tillage farmers and dairy farmers bore some of the largest drops in output prices over the 12 months to February 2024.
The most significant reduction in output prices over the 12 months were in:
- Cereals (down 31.6%);
- Milk (down 16.6%);
- Poultry (down 3.5%).
In contrast the biggest price increases were recorded in:
- Potatoes (up 75.5%);
- Sheep (up 18.4%);
- Vegetables (up 13.1%).
The latest CSO figures highlight that over the 12 months to February 2024, the Agricultural Input Price Index dropped by 15.1%, while the Agricultural Output Price Index was down by 7.6% over the same period of time.
While prices paid to some farmers fell back sharply there was also according to the CSO “significant reductions in input prices” – led by what it described as considerable decreases in fertiliser prices.
These included:
- Fertiliser (down 45.0%);
- Feed (down 14.9%);
- Energy (down 3.9%).
The annual terms of trade was up by 8.8% when compared with February 2023.
CSO
Latest analysis by the CSO agricultural division also highlighted that on a monthly basis, the Agricultural Output Price Index for February 2024 rose by 2.3% when compared with January 2024.
Myles added that the Agricultural Input Price index increased by 0.2% in February compared with January 2024.
“The most significant monthly changes in the output price sub-indices were in the price of milk, which increased by 6.0% while pig prices were down by 1.1%.
“The monthly input rice sub-indices show a drop of 5.9% in PK fertilizer prices and show an increase of 3.5% in motor fuels prices,” the statistician added.