CSO - Central Statistics Office Ireland

04/15/2024 | Press release | Distributed by Public on 04/15/2024 04:21

Agricultural Price Indices February 2024

Agricultural Input Price Index down 15.1% in February 2024

Online ISSN: 2009-5163
CSO statistical publication, 15 April 2024, 11am

Key Findings

  • On a monthly basis, the Agricultural Output Price Index for February 2024 rose by 2.3% when compared with January 2024.

  • The Agricultural Input Price Index for February 2024 increased marginally by 0.2% when compared with January 2024.

  • The monthly terms of trade increased by 2.1% in February 2024 when compared with the previous month.

  • In the 12 months to February 2024, the Agricultural Input Price Index dropped by 15.1%, while the Agricultural Output Price Index was down by 7.6% over the same period.

  • The most significant Output price decreases in the 12 months to February 2024 were in cereals (-31.6%), milk (-16.6%), and poultry (-3.5%), while increases were recorded in potatoes (+75.5%), sheep (+18.4%), and vegetables (+13.1%).

  • Over the 12 months to February 2024, there were significant reductions in the Input prices recorded for fertiliser (-45.0%), feed (-14.9%), and energy (-3.9%).

  • The annual terms of trade was up by 8.8% when compared with February 2023.

Statistician's Comment

The Central Statistics Office (CSO) has today (15 April 2024) released Agricultural Price Indices February 2024.

Commenting on the release Giselle Myles, Statistician in the Agriculture Division, said: "Today's release presents Agricultural Price Indices for February 2024. On a monthly basis the Agricultural Output Price index has increased by 2.3% while the Agricultural Input Price index increased by 0.2%, compared with January 2024.

The most significant monthly changes in the Output Price sub-indices were in the price of milk, which increased by 6.0% while pig prices were down by -1.1%. The monthly Input Price sub-indices show a drop of 5.9% in PK fertilizer prices and show an increase of 3.5% in Motor Fuels prices.

Looking at output prices in the 12 months since February 2023, there has been significant growth in potato prices (+75.5%) and, to a lesser extent, in sheep prices (+18.4%) and vegetables prices (+13.1%). Cereals and milk prices were the two areas with the highest price reductions at -31.6% and -16.6% respectively. On the Input price side over the last 12 months, there have been considerable decreases in fertiliser prices (-45.0%)."

Headline Table and Graph

The overall monthly Agricultural Output and Input Price Indices are presented in Figure 1. Table 1 and Table 2 contain detailed indices listed from February 2023. The monthly Terms of trade are shown below.

Agricultural Price Indices - February 2024
Output Input Terms of Trade
Base year 2015=100
February 2023 151.9 157.2 96.6
January 2024 137.2 133.3 102.9
February 2024 140.4 133.6 105.1
Monthly % Change 2.3% 0.2% 2.1%
Annual % Change -7.6% -15.1% 8.8%
Figure 1 - Agricultural Input and Output Price Indices (Base 2015=100)

© Central Statistics Office, Ireland
https://data.cso.ie/table/AHM04

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Table 1 Agricultural Output Price Index (excluding VAT)
Table 1 Agricultural Output Price Index (excluding VAT)
Base Year 2015 = 100
Category 2023 2024 % Change
Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Monthly Annual
Agricultural Output Price Index 151.9 146.2 143.0 143.1 139.6 134.7 125.3 129.2 127.3 129.4 133.6 137.2 140.4 2.3% -7.6%
Crop Output 167.8 166.9 168.8 172.8 173.5 173.5 136.0 163.9 164.9 167.4 167.6 165.0 164.9 -0.1% -1.7%
Cereals (including seeds) 227.9 227.9 227.9 227.9 227.9 227.9 155.8 155.8 155.8 155.8 155.8 155.8 155.8 0.0% -31.6%
Vegetables 116.5 114.5 119.0 122.0 121.2 122.1 125.1 135.6 137.9 140.4 137.3 132.1 131.8 .. 13.1%
Potatoes (including seeds) 152.3 152.3 152.3 167.9 173.7 171.7 116.4 252.4 252.4 260.4 269.7 267.3 267.3 .. 75.5%
Animal Output 149.8 143.5 139.6 139.2 135.2 129.6 123.9 124.6 122.4¹ 124.4 129.2¹ 133.6¹ 137.2 2.7% -8.4%
Animals 133.1 135.7 137.9 138.1 134.9 129.9 125.4 126.6 123.2¹ 123.2 127.2¹ 130.3¹ 131.0 0.5% -1.6%
Cattle 135.7 135.8 136.3 134.4 129.1 123.5 118.6 120.7 117.7 119.0 125.0 131.1 131.5 0.3% -3.1%
Cattle excluding calves 136.2 136.3 136.7 134.7 129.3 123.6 118.6 120.6 117.5 118.9 125.1 131.2 131.9 0.6% -3.1%
Calves 56.8 50.2 66.9 79.5 91.4 102.2 113.4 139.2 144.0 129.2 112.2 113.0 52.1 .. -8.2%
Pigs 134.9 147.4 152.5 153.4 153.7 154.3 155.0 153.6 146.7 138.8 135.4 133.4¹ 131.8 -1.1% -2.3%
Sheep 113.0 120.3 135.0 153.0 159.0 145.9 132.4 131.0 131.6 135.9 137.3 125.9 133.7 .. 18.4%
Poultry 120.7 120.6 120.3 120.3 119.8 119.6 119.8 120.0 115.5¹ 115.2 115.5¹ 116.4¹ 116.4 0.0% -3.5%
Animal Products 175.0 155.3 142.1 140.8 135.7 129.2 121.7 121.5 121.1 126.1 132.2 138.5¹ 146.5 5.8% -16.3%
Milk 176.7 156.3 142.6 141.3 136.0 129.3 121.6 121.4 121.1 126.3¹ 132.6¹ 139.1¹ 147.4 6.0% -16.6%
Eggs 142.0 143.6 143.6 143.6 143.6 143.6 143.6 143.6 138.8 138.8 138.8 138.8 138.2 -0.4% -2.7%
Wool 13.5 13.5 13.5 13.6 13.6 13.6 13.6 13.6 13.6 13.6 13.6 13.6 13.6 0.0% 1.2%
.. Comparison not valid as different basket of products are included each month.
¹ Revised

Table 2 Agricultural Input Price Index (excluding VAT)
Table 2 Agricultural Input Price Index (excluding VAT)
Base Year 2015 = 100
Category 2023 2024 % Change
Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Monthly Annual
Agricultural Input Price Index 157.2 155.1 150.0 144.8 138.3 136.8 136.2 136.3 135.2 134.2 133.3 133.3 133.6 0.2% -15.1%
Seeds 128.0 133.1 133.1 133.1 133.1 133.1 133.1 133.1 131.6 131.6 131.6 131.6 131.6 0.0% 2.8%
Energy 158.3 155.7 152.4 145.6 147.5 148.4 156.3 164.8 164.9 155.8 150.6 149.1 152.1 2.0% -3.9%
Electricity 219.2 219.2 219.2 215.1 215.1 212.3 212.3 209.7 206 185.9 185.9 185.9 183.4 -1.4% -16.3%
Motor Fuels 141.0 137.4 133.0 125.0 127.7 129.8 140.7 153.1 154.5 148.4 141.3 139.1 144.1 3.5% 2.1%
Lubricants 112.1 112.7 112.9 112.6 108.8 108.4 108.5 108.5 108.2 108.6 109.0 111.1¹ 111.4 0.3% -0.6%
Fertilisers 223.1 209.9 180.3 160.0 129.9 123.7 122.8 123.7 123.9 123.6 124.0 123.8 122.7 -0.9% -45.0%
Straight Fertilisers 244.2 224.7 184.3 159.1 127.1 120.9 121.0 122.5 122.8 122.4 123.5 122.9 121.7 -1.0% -50.2%
Compound Fertilisers 216.1 205.0 179.7 160.9 130.1 123.5 122.0 122.6 122.7 122.5 122.5 122.5 121.6 -0.7% -43.7%
PK Fertilisers 211.3 209.0 201.6 191.0 178.7 174.0 167.9 169.1 168.4 166.8 160.9 153.2 144.1 -5.9% -31.8%
NPK Fertilisers 216.2 204.9 179.1 160.2 128.9 122.3 120.8 121.4 121.5 121.4 121.5 121.7 121.0 -0.6% -44.0%
Other Fertilisers 136.4 148.6 152.9 152.9 152.9 152.9 152.9 152.9 152.9 152.9 152.9 152.9 147.9 -3.3% 8.4%
Plant Protection Products 130.2 133.7 134.9 138.1 137.9 140.2 140.2 140.2 140.2 140.2 140.2 140.2 140.2 0.0% 7.6%
Veterinary Expenses 120.4 120.4 120.4 120.4 120.4 120.4 120.4 120.4 120.4 120.4 120.4 125.3 125.3 0.0% 4.1%
Feeding Stuffs 169.8 169.5 168.5 164.4 158.3 156.2 152.4 149.8 146.6 146.3 145.0 144.7 144.5 -0.1% -14.9%
Straight Feeding Stuffs 175.9 174.2 167.2 164.4 156.9 155.0 151.4 144.7 142.7 145.4 143.4 140.4 139.9 -0.4% -20.5%
Compound Feeding Stuffs 169.5 169.3 168.6 164.4 158.4 156.3 152.5 150.0 146.8 146.4 145.1 144.9 144.7 -0.1% -14.6%
Feeding Stuffs for Calves 166.2 165.9 164.8 160.3 154.3 151.9 149.0 147.3 144.8 143.1 142.5 142.0 141.6 -0.3% -14.8%
Feeding Stuffs for Cattle excl. Calves 169.0 168.8 168.1 163.0 157.5 155.5 150.8 147.6 143.9 143.3 143.1 142.7 142.4 -0.2% -15.8%
Feeding Stuffs for Pigs 183.0 183.0 183.0 178.2 168.6 168.6 163.3 160.6 157.9 157.9 157.9 157.9 157.9 0.0% -13.7%
Feeding Stuffs for Poultry 157.9 157.9 156.5 155.7 151.9 147.2 147.2 147.2 144.3 144.3 138.5 138.5 138.5 0.0% -12.3%
Other Compound Feeding Stuffs 167.5 167.0 166.2 162.2 157.0 154.4 150.6 147.7 145.2 144.7 144.2 144.0 144.0 0.0% -14.0%
Maintenance of Materials and Buildings 115.2 115.5 115.6 116.0 116.0 116.0 116.3 116.3 116.3 118.1 118.2 118.1 119.1 0.8% 3.4%
Other goods and Services 116.5 116.5 117.3 117.4 117.3 117.3 117.3 117.4 117.5 117.4 117.6 117.7 117.9 0.2% 1.2%

Input Indicators

Figure 2 displays a selection of input price indices.

Figure 2- Agricultural Input Price Index (Base 2015=100)

© Central Statistics Office, Ireland
https://data.cso.ie/table/AHM04

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Output Indicators

Figure 3 shows the main components of the output price index of agricultural products from February 2023 to February 2024.

Figure 3- Agricultural Output Price Index (Base 2015=100)

© Central Statistics Office, Ireland
https://data.cso.ie/table/AHM04

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Live Chart Generator

Figure 4 updates and animates automatically as data change in real time. It is an interactive tool that allow the user to check a particular trend from the drop-down list.

Figure 4- Agricultural Product
Agricultural Product:
Agricultural output price indexCrop outputCereals including seedsFruit and VegetablesPotatoes including seedsAnimal outputAnimalsCattleCattle excluding calvesCalvesPigsSheepPoultryAnimal productsMilkEggsWoolAgricultural input price indexSeedsEnergyElectricityMotor fuelLubricantsFertilisersStraight fertilisersCompound fertilisersPK fertilisersNPK fertilisersOther fertilisersPlant protection productsVeterinary expensesFeeding stuffsStraight feeding stuffsCompound feeding stuffsCompound feeding stuffs for calvesCompound feeding stuffs for cattle excluding calvesCompound feeding stuffs for pigsCompound feeding stuffs for poultryOther compound feeding stuffsMaintenance of materials and buildingsOther goods and servicesAgricultural output price index

© Central Statistics Office, Ireland
https://data.cso.ie/table/AHM04

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