Fertiliser prices fall by 28%

Fertiliser prices fell 28.1% in April this year when compared to last, according to new CSO figures. 

However, input price growth was recorded in feed, which was up 14.4% in the year, seeds up 7.1%, and veterinary expenses up 6.1%.

On a monthly basis, in April, there was a 14.1% drop in fertiliser prices compared to March this year. 

Overall, the agricultural input price index for April 2023 was down by 0.6% in comparison with April 2022. 

On a monthly basis, the input price index for April 2023 was down by 3.3% in comparison with March 2023.

Output prices

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.

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 annual terms of trade rose by 1.1% when compared with April 2022.

The monthly terms of trade increased by 1.2% in April 2023 when compared with the previous month.