Fertiliser prices in Ireland dropped by an estimated 30% in 2023 when compared with the previous year, according to Eurostat.
However, data from the European Union’s statistics agency shows that fertiliser prices spiked by almost 123% in Ireland during 2022 following the Russian invasion of Ukraine.
The average price for fertiliser across the EU fell by over a fifth last year but costs had increased by almost 90% in 2022.
The price of fertiliser in 2023 were lower than in 2022 in 22 EU countries out of the 26 where data was available data.
Prices dropped fastest in Luxembourg (-46%), Sweden (-41%) and Finland (-39%). In contrast, prices were higher in Cyprus (14%), Malta (9%), Greece (6%) and Romania (3%).
Eurostat
Overall, initial estimates from Eurostat for agricultural price indices for 2023 show a shift from the sharp price increases that dominated 2021 and 2022.
Last year, the average price of agricultural outputs in the EU increased by 2% compared to the previous year, while the average price inputs decreased by 5%.
Eurostat said that the modest overall increase in output prices is reflected in the contrasts between various products.
There was a significant price increase of 54% for olive oil, pig prices climbed 22% and eggs rose by 20%.
A widespread drought in 2023 impacted the production levels of a number of crops, including potatoes.
This in turn resulted in the average price of potatoes including seed potatoes increasing by 23%.
The cost of potatoes rose in 24 of the EU countries. Prices rose fastest in Germany (49%), Slovakia (48%) and Croatia (44%). Prices fell in Belgium (-18%), Cyprus (-14%) and Austria (-4%).
However, there was a substantial drop of 26% in overall average cereal prices in 2023, including wheat, barley, maize, rye and oats as well as other types of cereal.
On the inputs side, along with a 23% drop in the average price of fertilisers and soil improvers, the cost of energy lubricants fell by 12%.
The data shows that the average price of plant protection products and pesticides rose 9%, as did seeds, planting stock and veterinary expenses.