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On a monthly basis, the Agricultural Output Price Index for April 2024 rose by 0.5% when compared with March 2024.
The Agricultural Input Price Index for April 2024 decreased by 0.2% when compared with March 2024.
The monthly Terms of Trade increased by 0.7% in April 2024 when compared with the previous month.
In the 12 months to April 2024, the Agricultural Input Price Index dropped by 12.6%, while the Agricultural Output Price Index was down by 0.2% over the same period.
The most significant Output price decreases in the 12 months to April 2024 were in Cereals (-31.4%), Industrial & Forage Crops (-26.4%), Pigs (-6.2%), and Eggs (-3.7%), while increases were recorded in Potatoes (+73.6%), Sheep (+27.1%), and Vegetables (+11.7%).
Over the 12 months to April 2024, there were significant reductions in the Input prices recorded for Fertiliser (-31.4%), Electricity (-22.2%), and Feed (-16.8%).
The annual Terms of Trade rose by 14.2% when compared with April 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 April 2023. The monthly Terms of trade are shown below.
| Agricultural Price Indices - April 2024 | |||
| Output | Input | Terms of Trade | |
| Base year 2020=100 | |||
| April 2023 | 138.2 | 146.7 | 94.3 |
| March 2024 | 137.2 | 128.4 | 106.9 |
| April 2024 | 137.9 | 128.1 | 107.6 |
| Monthly % Change | 0.5% | -0.2% | 0.7% |
| Annual % Change | -0.2% | -12.6% | 14.2% |
Figure 2 displays a selection of input price indices.
Figure 3 shows the main components of the output price index of agricultural products from April 2023 to April 2024.
Figure 4 allows users to display the trend of a selected sub-index using the drop-down list.
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Statistician's Comment
The Central Statistics Office (CSO) has today (17 June 2024) released Agricultural Price Indices April 2024.
Commenting on the release Giselle Myles, Statistician in the Agriculture Division, said: "Today's release presents Agricultural Price Indices for April 2024. The Agricultural Output Price Index rose by 0.5% during April while the Agricultural Input Price Index fell by 0.2% in the month. The Input Price Index was down 12.6% compared to a year ago in April 2023. The Terms of Trade increased by 0.7% compared with March 2024, and was up by 14.2% in the year to April 2024.
On the Input side, the price of Fertilisers has fallen by 31.4% in the year to April, while the price of Motor Fuels has increased by 10.1%.
On the Output side, the price of Cereals (including seeds) has fallen by 31.4% in the year to April 2024, while there have been sharp increases in the prices of Potatoes (up by 73.6%) and Sheep (up by 27.1%)."