Farm price pressures: Farm input prices increase as output figures drop
The agricultural output price index decreased by 1.4% in October 2018 compared with September 2018, according to the latest figures released by the Central Statistics Office (CSO).
The agricultural input price index increased by 0.8% for the same period, the office reports.
The resulting terms of trade index decreased by 2.1% in October 2018, according to the CSO.
Input price increase
On an annual basis, the agricultural input price index was up 7.0% in October 2018 compared with October 2017.
Of energy costs, motor fuels saw the most dramatic increase, jumping by a hefty 18.2%, while straight fertilisers and straight feeding stuffs saw lifts of 12.1% and 16.4% respectively in their fields.
Cut to output prices
The agricultural output price index decreased by 1.8% in October 2018 compared with October 2017.
Cattle excluding calves decreased by 2.3% while calves sank by 16.6% in index.
Sheep and poultry saw marginal gains of 1.3% and 0.3% respectively
Crops on the other hand saw an increase in price with a 35.2% rise recorded between October 2017 and 2018.
Eggs and wool were steadier in index performance, with eggs increasing by 3.2% in index and wool slipping down 2.5%.