66% wool price fall the biggest shock in year of negative price trends for farmers
In the past year, potato prices decreased by a massive 39%, and grain prices also plummeted, by 27.5%. Prices for produce fell 4.3% overall for farmers, but their costs of production also fell, by 3.5%.
Grain and potato prices plummeted in the past year, but farming profitability only declined slightly, according to the latest agricultural price statistics released by the Central Statistics Office (CSO).
In June, compared to a year earlier, calves were dearer, motor fuel cheaper; egg and chicken prices improved, and electricity charges are on the decrease, according to the CSO.
On an annual basis, the statistics show agricultural inputs are 3.5% cheaper compared with the same period last year.
But the agricultural output price index decreased by 4.3% within the same timeframe.
Therefore, the “terms of trade” for farmers deteriorated 0.8% in the year.
Cattle prices overall dropped by 0.9%, but calves fetched 22.8% more than they did last year.
The pig price is down by 3.1% while the value of sheep has increased by 4.2%; poultry is also up, by 0.2%.
These statistics report indicates that farmgate prices for crops are overall down by 21.9%, from June to June.
The grain price decreased by a massive 27.5%, and potato prices also plummeted, by 39%.
Vegetable prices fell 2.1% in the year.
Milk prices too decreased, by 1.5%, while prices for eggs rose 0.5%.
On the farm inputs side, the cost of electricity has decreased by 2.7%, while motor fuels are down 16.3%. The average fertiliser price is also down, with straight fertilisers 12.9% cheaper; compound fertiliser prices down 10.2%; PK fertilisers 3.3% cheaper; and NPK fertilisers down 10.4%.
Feed for calves also saw a price decrease (2%), while pig feed decreased by 2.3%.
Cattle feed saw a rise of 0.7% and poultry feed decreased by 2.3%.
