The Agricultural Output Price Index was up 0.4% in the 12 months to April 2023 while the Agricultural Input Price Index fell 0.6% over the same period.
The most significant output price increases can be seen in cereal prices (+47.5%), pig prices (+34.9%), egg prices (+23.5%) and calf prices (+16.5%) over the last 12 months.
Input price growth was recorded in feed (+14.4%), seeds (+7.1%), and veterinary expenses (+6.1%), while fertiliser prices fell (-28.1%) in April 2023 when compared with April 2022.
The annual terms of trade rose by 1.1% when compared with April 2022.
On a monthly basis, the Agricultural Output Price Index decreased by 2.2% when compared with March 2023.
The Agricultural Input Price Index for April 2023 was down by 3.3% in comparison with March 2023.
The monthly terms of trade increased by 1.2% in April 2023 when compared with the previous month.
Figure 1 shows both the Agricultural Input Price Index and the Agricultural Output Price Index.
| Agricultural Price Indices - April 2023 | |||
| Output | Input | Terms of Trade | |
| Base year 2015=100 | |||
| April 2022 | 142.3 | 150.6 | 94.5 |
| March 2023 | 146.1 | 154.8 | 94.4 |
| April 2023 | 143.0 | 149.7 | 95.5 |
| Monthly % Change | -2.2% | -3.3% | 1.2% |
| Annual % Change | 0.4% | -0.6% | 1.1% |
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Statistician's Comment
The Central Statistics Office (CSO) has today (13 June 2023) released Agricultural Price Indices April 2023.
Commenting on the release Dr Grzegorz Głaczyński, Statistician in the Agriculture Division, said: "Today's release details Agricultural Price Indices for April 2023. On a monthly basis the Agricultural Output Price index decreased by 2.2% while the Agricultural Input Price index fell by 3.3%, when compared with March 2023.
The significant monthly changes in the Output Price sub-indices were recorded in the price of milk which dropped by 8.6%, while pig prices increased by 3.5%. The monthly Input Price sub-indices show a decline of 14.1% in fertiliser prices.
Analysing Output prices in the 12 months since April 2022, significant growth has been observed in cereal prices (+47.5%), pigs (+34.9%), and eggs (+23.5%), while milk prices decreased (-18.8%).
Examining Input prices over the last 12 months, there have been increases in feed (+14.4%), seeds (+7.1%), and veterinary expenses (+6.1%). An overall drop was recorded in fertiliser prices of 28.1% over the same period."