In the 12 months to September 2024, the Agricultural Output Price Index rose by 19.7%, while the Agricultural Input Price Index dropped by 7.4% over the same period.
The Agricultural Output Price Index for September 2024 went up by 3.6% when compared with August 2024.
On a monthly basis, the Agricultural Input Price Index for September 2024 fell by 0.8% when compared with August 2024.
The most significant Output Price increases in the 12 months to September 2024 were in Milk (+43.3%), Potatoes (+15.5%), Sheep (+15.5%), and Cattle (+8.3%), while decreases were recorded in Eggs (-3.7%), and Poultry (-1.5%).
Over the 12 months to September 2024, there were significant reductions in the Input prices recorded for Electricity (-19.5%), Feed (-12.1%), and Fertilisers (-9.7%), while Plant Protection Products rose by 4.8%.
The monthly Terms of Trade rose by 4.4% in September 2024 when compared with the previous month. The annual Terms of Trade went up by 29.2% when compared with September 2023.
The overall monthly Agricultural Output and Input Price Indices are presented in Figure 1. Table 1 and Table 2 contain detailed indices listed from September 2023 to September 2024. The monthly Terms of Trade are shown below.
| Agricultural Price Indices - September 2024 | |||
| Output | Input | Terms of Trade | |
| Base year 2020=100 | |||
| September 2023 | 123.2 | 133.1 | 92.6 |
| August 2024 | 142.3 | 124.3 | 114.5 |
| September 2024 | 147.5 | 123.3 | 119.6 |
| Monthly % Change | 3.6% | -0.8% | 4.4% |
| Annual % Change | 19.7% | -7.4% | 29.2% |
Figure 2 displays a selection of input price indices.
Figure 3 shows the main components of the output price index of agricultural products from September 2023 to September 2024.
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Statistician's Comment
The Central Statistics Office (CSO) has today (14 November 2024) published Agricultural Price Indices September 2024.
Commenting on the release Dr Nele van der Wielen, Statistician in the Agriculture Division, said: "From August 2024 to September 2024, the monthly Agricultural Output Price Index increased by 3.6%, while the Input Price Index decreased by 0.8%.
On an annual basis, the Agricultural Output Price Index rose by 19.7%, and the Input Price Index fell by 7.4%.
Looking at the monthly Output sub-indices, significant increases were seen in Milk (+43.3%), Potatoes (+15.5%), Sheep (+15.5%), and Cattle (+8.3%) over the 12 months to September 2024. Conversely, declines were seen in Eggs (-3.7%), and Poultry (-1.5%).
In the same period, substantial reductions in the Input sub-indices were recorded in Electricity (-19.5%) as well as for Feeding Stuffs (-12.1%), and Fertilisers (-9.7%).”