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In the 12 months to July 2024, the Agricultural Output Price Index rose by 8.8%, while the Agricultural Input Price Index dropped by 6.8% over the same period.
On a monthly basis, the Agricultural Input Price Index for July 2024 decreased by 0.9% when compared with June 2024.
The Agricultural Output Price Index for July 2024 rose marginally by 0.1% when compared with June 2024.
The most significant Output Price decreases in the 12 months to July 2024 were in Cereals (-31.4%), Industrial & Forage Crops (-26.4%), and Eggs (-3.7%) while increases were recorded in Potatoes (+34.9%), Milk (+22.3%), and Vegetables (+8.1%).
Over the 12 months to July 2024, there were significant reductions in the Input prices recorded for Electricity (-20.6%), Feed (-15.2%), and Fertilisers (-7.9%), while Motor Fuel rose by 10.8%.
The monthly Terms of Trade grew by 1.0% in July 2024 when compared with the previous month. The annual Terms of Trade went up by 16.7% when compared with July 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 July 2023 to July 2024. The monthly Terms of Trade are shown below.
| Agricultural Price Indices - July 2024 | |||
| Output | Input | Terms of Trade | |
| Base year 2020=100 | |||
| July 2023 | 129.7 | 134.1 | 96.7 |
| June 2024 | 140.8 | 126.0 | 111.7 |
| July 2024 | 141.0 | 125.0 | 112.8 |
| Monthly % Change | 0.1% | -0.9% | 1.0% |
| Annual % Change | 8.8% | -6.8% | 16.7% |
© Central Statistics Office, Ireland
https://data.cso.ie/table/AHM05
Figure 2 displays a selection of input price indices.
© Central Statistics Office, Ireland
https://data.cso.ie/table/AHM05
Figure 3 shows the main components of the output price index of agricultural products from July 2023 to July 2024.
© Central Statistics Office, Ireland
https://data.cso.ie/table/AHM05
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Statistician's Comment
The Central Statistics Office (CSO) has today (13 September 2024) released Agricultural Price Indices July 2024.
Commenting on the release Dr Nele van der Wielen, Statistician in the Agriculture Division, said: "From June 2024 to July 2024, the monthly Agricultural Output Price Index increased by 0.1%, while the Input Price Index decreased by 0.9%.
On an annual basis, the Agricultural Input Price Index fell by 6.8%, and the Output Price Index rose by 8.8%.
Looking at the monthly Output sub-indices, the most notable decreases over the 12 months to July 2024 were in Cereals (-31.4%), Industrial & Forage Crops (-26.4%), and Eggs (-3.7%). Conversely, significant increases were seen in Potatoes (+34.9%), Milk (+22.3%), and Vegetables (+8.1%).
In the same period, substantial reductions in the Input sub-indices were recorded for all categories related to Feeding Stuffs as well as for Electricity (-20.6%), and Fertilisers (-7.9%).”