Preliminary estimates of the agricultural price indices for 2020 show a 3.3% decrease in input prices from 2019 levels with a large fertiliser decrease.
The projected decrease in the input price index of 3.3% is due mainly to a decrease in fertilisers (-10.5%) and energy (-8.1%), according to the latest report from the Central Statistics Office (CSO).
While there are estimated decreases in feeding stuffs (-2.4%); seeds (-4.4%); energy (-8.1%); and fertilisers (-10.5%), there were slight increases in veterinary expenses (+1.4%) and plant protection products (+0.2%).
Output Index
The projected increase in the output price index of 0.1% is due mainly to increases in sheep (9.1%) and cattle (5%).
Annual percentage change in selected agricultural output price indices
Data sources
The indices monitor trends in prices paid to farmers for their produce and in prices paid by farmers for purchases of goods and services.
The estimates are also sent to Eurostat, the Statistical Office of the European Union, which provides the Directorate-General for Agriculture in Brussels with forecasts of the annual EU agricultural price indices for the current year.
The indices are compiled from a wide variety of sources, including direct CSO surveys for co-operatives; merchants; marts; vets; and administrative data from the Department of Agriculture, Food and the Marine.