On a monthly basis, the Agricultural Output Price Index for June 2024 rose by 1.1% when compared with May 2024.
The Agricultural Input Price Index for June 2024 decreased by 0.7% when compared with May 2024.
In the 12 months to June 2024, the Agricultural Input Price Index dropped by 7.3%, while the Agricultural Output Price Index rose by 5.0% over the same period.
The most significant Output Price decreases in the 12 months to June 2024 were in Cereals (-31.4%), Industrial & Forage Crops (-26.4%), Eggs (-3.7%), and Poultry (-1.4%), while increases were recorded in Potatoes (+64.9%), and Sheep (+11.9%).
Over the 12 months to June 2024, there were significant reductions in the Input prices recorded for Electricity (-20.7%), Feed (-14.4%), and Fertiliser (-12.0%), while an increase was recorded in Motor Fuel (+10.3%).
The monthly Terms of Trade went up by 1.8% in June 2024 when compared with the previous month. The annual Terms of Trade rose by 13.2% when compared with June 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 June 2023 to June 2024. The monthly Terms of Trade are shown below.
| Agricultural Price Indices - June 2024 | |||
| Output | Input | Terms of Trade | |
| Base year 2020=100 | |||
| June 2023 | 134.0 | 135.9 | 98.6 |
| May 2024 | 139.2 | 126.9 | 109.7 |
| June 2024 | 140.7 | 126.0 | 111.6 |
| Monthly % Change | 1.1% | -0.7% | 1.8% |
| Annual % Change | 5.0% | -7.3% | 13.2% |
Figure 2 displays a selection of input price indices.
Figure 3 shows the main components of the output price index of agricultural products from June 2023 to June 2024.
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Statistician's Comment
The Central Statistics Office (CSO) has today (14 August 2024) released Agricultural Price Indices June 2024.
Commenting on the release Dr Nele van der Wielen, Statistician in the Agriculture Division, said: "From May 2024 to June 2024, the monthly Agricultural Output Price Index increased by 1.1%, while the Input Price Index decreased by 0.7%.
On an annual basis, the Agricultural Input Price Index fell by 7.3%, and the Output Price Index rose by 5.0%.
Looking at the monthly Output sub-indices, the most notable decreases over the 12 months to June 2024 were in Cereals (-31.4%), Industrial & Forage Crops (-26.4%), Eggs (-3.7%), and Poultry (-1.4%). Conversely, significant increases were seen in Potatoes (+64.9%), Sheep (+11.9%), and Milk (+11.6%).
In the same period, substantial reductions in the Input sub-indices were recorded for Electricity (-20.7%), and Fertilisers (-12.0%).”