{"id":1245778,"date":"2024-03-12T13:40:00","date_gmt":"2024-03-12T13:40:00","guid":{"rendered":"https:\/\/www.agriland.ie\/?p=1245778"},"modified":"2024-03-12T13:20:14","modified_gmt":"2024-03-12T13:20:14","slug":"cso-agricultural-output-and-input-prices-fall-year-on-year","status":"publish","type":"post","link":"https:\/\/lightsail.agriland.ie\/farming-news\/cso-agricultural-output-and-input-prices-fall-year-on-year\/","title":{"rendered":"CSO: Agricultural output and input prices fall year-on-year"},"content":{"rendered":"\n

Both the output prices and input prices in the agriculture sector declined in the 12 months to January 2024, according to the Central Statistics Office (CSO).<\/p>\n\n\n\n

The CSO<\/a> has released its agricultural price indices for the month of January, which showed that the agricultural output price index dropped by 13.8% compared to January 2023, while the agricultural input price index was down by 15.9% in the same period.<\/p>\n\n\n\n

On a monthly basis (comparing December 2023 to January 2024) the agricultural output price index rose by 2.7%, while the input index figure was unchanged.<\/p>\n\n\n\n

As a result, the agricultural terms of trade increased by 2.7% in January compared to December.<\/p>\n\n\n\n

For the 12 months to January, the most significant output price deceases were for cereals (down 31.6%), milk (down 30.3%), and poultry (down 5.5%).<\/p>\n\n\n\n

However, over that period output price increases were noted for potatoes, which saw a substantial increase of 75.5%, and vegetables, which increased by 13.1%.<\/p>\n\n\n\n

The overall output price index for animals was down 15.4% compared to January 2023. Apart from the decline for poultry, decreases were also noted for cattle (down 1.5%) and pigs (down 4.3%).<\/p>\n\n\n\n

Increases in index were recorded for calves (up 21.7%) and sheep (up 8.2%).<\/p>\n\n\n\n

The decrease in output price for milk accounted for almost all of the decrease for animal products collectively, with a much more marginal decrease for eggs (down 0.2%) and an increase for wool (up 1.2%).<\/p>\n\n\n\n

Focusing on input prices over the 12 months to January 2024, there were significant reductions in input prices recorded for fertiliser (down 46.7%), feed (down 14.6%), and energy (down 6.8%).<\/p>\n\n\n\n

For specific fertilisers, there were decreases across the board, with the exception of the ‘other fertilisers’ category.<\/p>\n\n\n\n

These decreases were as follows:<\/p>\n\n\n\n