The agricultural input price index was down by 6.5% in May 2023 when compared to the same month last year, according to the most recent figures from the Central Statistics Office (CSO).
Fertiliser prices fell by 35.6% over the past year, and dropped by 11.3% when compared to April 2023, the CSO figures published today (Tuesday, July 11) show.
Cereal, pig, and egg prices saw the biggest output price increases at 47.5%, 32.3%, and 17.6% respectively, while milk prices dropped by 23.8% within one year.
Overall, the agricultural output price index fell by 4.7% in the 12 months up until May this year. On a monthly basis, the index increased marginally by 0.1% from April, the CSO said.
The most noticeable monthly changes in the output price sub-indices were recorded in the price of milk which dropped by 0.9%, while crop output rose by 2.3%.
The overall input price index fell by 3.4% when compared to April 2023. Energy prices fell by 4.5% within one month, while plant protection products went up by 6.9%.
The price of plant protection products, seeds, and veterinary expenses all increased in the year up until May 2023 by 13%, 7.1%, and 6.1% respectively, the CSO said.
CSO tractor licences
Latest CSO figures also show that 171 new tractors were licensed for the first time during June, which is down by 25% compared to the previous month when 230 new tractors were registered.
It also marks a decrease of 8.5% on the June 2022 total of 187 units. During the first half of this year, 1,438 new tractors were licensed for the first time, the CSO said.
The data also shows that 195 used/imported tractors were licensed for the first time in June, which is a slight increase on June 2022 when 193 units were registered.
However, this is back 28% on the May 2023 total of 272 used tractors being registered for the first time, according to CSO tractor figures.