Dairy farmers have shouldered one of the biggest falls in output prices over the 12 months to September 2023, according to the Central Statistics Office (CSO) today (Friday, November 10).
The latest Agricultural Price Indices, published today, shows that the milk price fell by 37.4% over the 12 months to September 2023.
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 the CSO in the 12 months to September 2023, the Agricultural Output Price Index was down 16.2%, while the Agricultural Input Price Index fell by 12.3%.
The most significant output price decreases over the 12 months included:
- Milk: down 37.4%
- Cereals: down 31.6%,
- Cattle: down 1.0%.
But output price increases were also recorded which included:
- Potatoes: up 38.0%;
- Eggs: up 14.2%;
- Vegetables: up 13.4%;
- Pig prices: up 9.6%.
According to the CSO many farmers also benefitted from “significant input price decreases” in the 12 months to September 2023, as fertiliser prices dropped by 45.4% and feed prices fell back by 8.3%.
CSO
However Dr. Grzegorz Glaczynski, statistician in the CSO agriculture division, said there had also been “noteworthy growth in electricity (23.5%) and plant protection product prices (7.6%)”.
On a monthly basis the Agricultural Output Price Index rose by 3.6% when compared with August 2023 while the Agricultural Input Price Index for September 2023 was up by 0.1% in comparison with August 2023.
Dr. Glaczynski added: “The most noticeable monthly increases in the output price sub-indices were in the price of crops which rose by 20.5% and cattle prices by 1.8%, compared with August 2023.
“For the monthly input price sub-indices, a decline of 1.7% was recorded in feed prices, while motor fuel prices went up by 8.8%.”
According to the CSO the monthly terms of trade was up 3.5% in September 2023 when compared with the previous month.