CSO: Fertiliser prices up by over 170% as agricultural prices skyrocket

The CSO said the output price index — which measures the prices of agricultural produce — increased by 24% on an annual basis. Picture: Andy Gibson.

Annual fertiliser prices have risen by 177.8% in the year to April 2022, revealed figures released by the Central Statistics Office (CSO) today.

The skyrocketing prices come as costs for farmers rise due to global supply chain issues and Russia's invasion of Ukraine.

Rising input costs are causing issues for farmers as the agricultural input price index increased by 39.6% in the year from April 2021.

The CSO said the output price index — which measures the prices of agricultural produce — increased by 24% on an annual basis.

However, there was a decline in the annual terms of trade which fell by 11.2% compared to April 2021.

Input price increases are also seen in the rising energy prices which were up by 43%. Feed prices also increased by 27.3% in the year.

The rising agricultural prices come as the consumer price index reached 7.8% in April, the highest rate of inflation in Ireland for 38 years.

The agricultural input price index was also up almost 5%, on a monthly basis. While the agricultural output price index was up just over 5% when compared with March 2022.

The monthly agricultural output price indices were up 5.1% and input price indices increased by 4.8% to April 2022 from the previous month. 

The output sub-indices showed an increase in pig prices and milk prices, up 16.7% and 6.6% on a monthly basis respectively.

Meanwhile, there was also a monthly increase in fertiliser prices, up 16.1%, as well as a rise in feed prices up from 5.3% from the previous month. 

Anthony Dawson, statistician, CSO said: "Today's release details price indices for April 2022. The most significant change is in the price of fertilisers where the price index is up 16.1% in the month from March 2022 and has increased by 177.8% in the year from April 2021. 

"This trend of input price increases is also seen in energy and feed prices which are up 43% and 27.3% respectively in the year.

"Increases can also be seen in the output price sub-indices where the monthly price of milk has risen by 6.6% in the month from March 2022 and is up almost 40% in the year while cattle prices are up almost 21% annually," he added.