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Agricultural Price Indices March 2022

Agricultural input price index shows fertiliser prices up by 149% in the year to March 2022

Online ISSN: 2009-5163

CSO statistical publication, 11 May 2022, 11am

Key Findings

Agricultural input price index up by 34.8% in the year from March 2021
Agricultural output price index up by 21.8% in the same period
The annual terms of trade was down 9.7% compared to March 2021
Input price increases can also be seen in energy prices which rose by 54.9% and in feed prices which are up 22.6% in the year.
On a monthly basis, the agricultural input price index was also up almost 7% in the same time period
The agricultural output price index was up by almost 5% when compared with February 2022
The monthly terms of trade was down almost 2% in the month of March 2022

Statistician's Comment

The Central Statistics Office (CSO) has today (11 May 2022) released Agricultural Price Indices March 2022.

Commenting on the release, Anthony Dawson, Statistician, said: "Today's release details price indices for March 2022. The most significant change is in the price of fertilisers where the price index is up 11.7% in the month from February 2022 and has increased by 149% in the year from March 2021. This trend of input price increases is also seen in energy and feed prices which are up 54.9% and 22.6% respectively in the year.

Increases can also been seen in the output price sub-indices where the monthly price of milk has risen by 6.1% in the month from February 2022 and is up more than 32% in the year while cattle prices are up more than 22% annually.

More generally, the monthly agricultural output price indices is up 4.7% and input price indices is up by 6.7% in the month from February 2022 to March 2022. A more detailed look at the monthly output sub-indices shows increases in milk prices (+6.1%), while the monthly input sub-indices saw a growth in energy prices (+21.8%) and feed prices (+3.1%). As a result, the terms of trade for March 2022 was down by 1.8%.

Annually, the agricultural output prices index is up 21.8% while the input price index is up 34.8%. The resulting annual change in the terms of trade was down 9.7%."

Agricultural Price Indices - March 2022
	Output	Input	Terms of Trade
	Base year 2015=100
March 2021	111.1	106.4	104.4
February 2022	129.2	134.5	96.0
March 2022	135.3	143.5	94.3
Monthly % Change	4.7%	6.7%	-1.8%
Annual % Change	21.8%	34.8%	-9.7%

Open in Excel: API2022M03 Headline Table (XLS 9KB)

	Total outputs	Total inputs
Jan 2019	104.101	105.654
Feb 2019	104.274	105.649
Mar 2019	103.945	105.929
Apr 2019	104.302	106.033
May 2019	107.743	105.774
Jun 2019	107.416	105.489
Jul 2019	102.366	105.173
Aug 2019	97.619	104.931
Sep 2019	99.458	104.454
Oct 2019	100.807	104.264
Nov 2019	101.401	103.66
Dec 2019	103.969	103.481
Jan 2020	105.565	104.307
Feb 2020	106.971	102.954
Mar 2020	103.906	102.481
Apr 2020	100.15	101.965
May 2020	102.35	101.575
Jun 2020	102.853	101.768
Jul 2020	104.228	101.815
Aug 2020	103.694	101.728
Sep 2020	105.292	101.44
Oct 2020	105.112	101.709
Nov 2020	104.791	102.156
Dec 2020	105.91	102.424
Jan 2021	106.502	103.407
Feb 2021	108.461	104.843
Mar 2021	111.102	106.397
Apr 2021	113.791	107.715
May 2021	116.124	109.121
Jun 2021	116.499	110.247
Jul 2021	115.991	111.187
Aug 2021	116.471	111.983
Sep 2021	119.413	113.561
Oct 2021	119.95	117.724
Nov 2021	119.869	119.43
Dec 2021	124.599	123.849
Jan 2022	125.615	130.686
Feb 2022	129.16	134.483
Mar 2022	135.291	143.469

Table 1 Agricultural Output Price Index (excluding VAT)

Table 1 Agricultural Output Price Index (excluding VAT)
														Base Year 2015 = 100
Category	Index													Monthly Change	Annual Change
	Mar-21	Apr-21	May-21	Jun-21	Jul-21	Aug-21	Sep-21	Oct-21	Nov-21	Dec-21	Jan-22	Feb-22	Mar-22	Mar-22 / Feb-22	Mar-22 / Mar-21
	Mar-21	Apr-21	May-21	Jun-21	Jul-21	Aug-21	Sep-21	Oct-21	Nov-21	Dec-21	Jan-22	Feb-22	Mar-22	Mar-22 / Feb-22	Mar-22 / Mar-21
Agricultural Output Price Index	111.1	113.8	116.1	116.5	116.0	116.5	119.4	120.0¹	119.9¹	124.6	125.6	129.2¹	135.3	4.7%	21.8%

Crop Output	111.0	112.9	113.9	114.5	112.3	123.7	140.6	137.2	135.5	132.8	132.7	132.6	132.3	-0.3%	19.2%
Cereals (including seeds)	115.3	115.3	115.3	115.3	115.3	154.5	154.5	154.5	154.5	154.5	154.5	154.5	154.5	0.0%	34.0%
Vegetables	101.2	105.3	108.6	108.3	108.1	109.0	108.9	111.0	111.0	104.5	103.4	103.3	102.4	..	1.2%
Potatoes (including seeds)	124.6	125.9	123.4	127.9	115.4	87.3	185.4	160.9	151.0	151.0	153.0	153.0	153.0	..	22.8%

Animal Output	111.1	113.9	116.4	116.8	116.5	115.5	116.6	117.7	117.8	123.5	124.7	128.7¹	135.7	5.4%	22.1%
Animals	102.5	107.5	110.2	110.9	110.7	108.5	108.4	107.8	107.7	110.0	109.7	111.9	117.3	4.9%	14.5%
Cattle	98.5	103.1	105.3	107.0	109.2	107.1	107.8	107.0	106.2	108.6	111.0	114.3	120.7	5.6%	22.5%
Cattle excluding calves	98.7	103.2	105.4	107.0	109.2	107.0	107.5	106.8	106.2	108.6	111.2	114.6	121.1	5.7%	22.7%
Calves	67.4	89.6	86.6	101.6	109.5	122.6	145.5	143.8	121.6	109.0	86.2	60.1	52.3	..	-22.5%
Pigs	106.6	111.9	114.3	115.8	111.9	108.1	104.8	101.5	99.0	99.1	97.1	96.7¹	96.9	0.1%	-9.2%
Sheep	131.2	141.8	151.8	142.8	129.3	126.4	126.7	130.9	142.2	147.5	125.2	124.0	134.1	..	2.2%
Poultry	100.5	100.6	100.8	100.3	99.2	101.0	100.3	101.0	101.2	103.9	104.4	104.9	105.2	0.2%	4.6%

Animal Products	124.1	123.6	125.8	125.6	125.2	126.2	129.0	132.6	133.0	143.9	147.4¹	154.1¹	163.4	6.0%	31.6%
Milk	125.3	124.8	127.0	126.7	126.2	127.3	130.2	134.0¹	134.4¹	145.6¹	149.0	156.0¹	165.6	6.1%	32.2%
Eggs	100.1	101.0	103.7	104.4	104.6	104.6	104.6	105.1	105.6	107.4	109.5	109.5	109.5	0.0%	9.3%
Wool	11.9	11.9	13.6	13.6	13.6	13.6	13.6	13.6	13.6	13.6	13.6	13.6	13.6	0.0%	13.7%
.. Comparison not valid as different basket of products are included each month.
¹ Revised

Open in Excel: API2022M03 Table 1 (XLS 13KB)

Table 2 Agricultural Input Price Index (excluding VAT)

Table 2 Agricultural Input Price Index (excluding VAT)
													Base Year 2015 = 100
Category	Index													Monthly Change	Annual Change
	Mar-21	Apr-21	May-21	Jun-21	Jul-21	Aug-21	Sep-21	Oct-21	Nov-21	Dec-21	Jan-22	Feb-22	Mar-22	Mar-22 / Feb-22	Mar-22 / Mar-21
	Mar-21	Apr-21	May-21	Jun-21	Jul-21	Aug-21	Sep-21	Oct-21	Nov-21	Dec-21	Jan-22	Feb-22	Mar-22	Mar-22 / Feb-22	Mar-22 / Mar-21
Agricultural Input Price Index	106.4	107.7	109.1	110.2	111.2	112.0	113.6	117.7	119.4	123.8	130.7	134.5	143.5	6.7%	34.8%

Seeds	110.5	110.5	110.5	110.5	110.5	110.5	110.5	112.6	112.6	112.6	112.6	112.6	124.3	10.4%	12.5%

Energy	105.4	106.7	108.7	109.9	113.2	115.1	116.5	125.0	128.8	127.4	128.9	134.0	163.3	21.8%	54.9%
Electricity	110.1	113.3	113.3	113.3	115.1	122.9	124.6	127.0	133.1	134.7	134.7	134.7	134.7	0.0%	22.4%
Motor Fuels	103.9	104.5	107.3	108.9	112.7	112.7	114.1	124.9	128.3	125.8	127.9	134.9	174.8	29.6%	68.2%
Lubricants	106.3	107.6	108.3	108.7	110.2	111.0	112.6	112.6	112.6	112.3	111.8	111.3	113.8	2.2%	7.0%

Fertilisers	86.8	90.3	94.2	95.1	96.9	100.2	104.3	120.8	123.2	147.7	179.9	193.4	216.0	11.7%	149.0%
Straight Fertilisers	84.6	89.5	94.0	95.1	97.0	100.0	102.7	122.7	127.0	159.8	200.8	218.8	247.2	13.0%	192.4%
Compound Fertilisers	86.9	89.8	93.5	94.5	96.2	100.0	104.7	120.1	121.5	142.7	171.9	183.5	204.1	11.3%	135.0%
PK Fertilisers	92.4	94.0	95.1	96.9	97.5	104.1	108.1	120.5	124.8	137.2	160.9	179.1	205.0	14.5%	121.8%
NPK Fertilisers	86.7	89.6	93.5	94.5	96.2	99.9	104.6	120.1	121.4	142.8	172.1	183.6	204.1	11.2%	135.4%
Other Fertilisers	105.7	105.7	105.7	105.7	105.7	105.7	114.3	114.3	114.3	114.3	114.3	114.3	114.3	0.0%	8.1%

Plant Protection Products	104.4	104.8	105.1	105.1	105.3	105.3	105.3	105.3	105.3	105.3	105.3	105.3	129.7	23.2%	24.3%

Veterinary Expenses	110.3	110.3	110.3	110.3	110.3	110.3	110.3	110.3	110.3	110.3	113.4	113.4	113.4	0.0%	2.8%

Feeding Stuffs	114.1	115.7	117.3	119.3	120.2	120.3	122.4	124.1	126.1	128.4	132.6	135.7	139.9	3.1%	22.6%
Straight Feeding Stuffs	122.1	123.0	124.6	126.5	127.0	127.4	129.9	133.3	138.2	141.9	145.6	149.0	163.7	9.9%	34.1%
Compound Feeding Stuffs	113.7	115.3	116.9	118.9	119.8	119.9	122.0	123.6	125.5	127.8	132.0	135.0	138.7	2.7%	22.0%
Feeding Stuffs for Calves	115.5	116.3	117.7	117.5	120.7	120.8	122.7	124.4	126.1	127.2	131.5	134.5	139.2	3.5%	20.6%
Feeding Stuffs for Cattle excl. Calves	114.5	116.2	117.9	118.9	119.9	120.0	122.8	124.8	126.7	130.0	134.2	137.6	140.9	2.4%	23.0%
Feeding Stuffs for Pigs	116.4	118.7	120.1	125.6	126.6	126.6	129.2	130.5	134.6	136.0	140.4	144.2	150.4	4.3%	29.2%
Feeding Stuffs for Poultry	107.9	108.9	110.9	113.0	113.0	113.1	112.5	112.9	112.9	113.2	117.0	118.2	120.1	1.6%	11.3%
Other Compound Feeding Stuffs	113.3	114.7	116.1	116.9	117.8	117.8	121.0	123.3	124.3	127.1	132.0	135.4	138.3	2.2%	22.0%

Maintenance of Materials and Buildings	106.6	106.6	106.7	107.1	107.1	107.6	107.9	107.9	108.7	108.8	108.8	109.7	109.8	0.1%	3.0%
Other Goods and Services	105.7	106.2	106.0	106.5	106.4	106.2	106.2	106.8	107.4	107.6	108.1	107.8	108.2	0.3%	2.3%
¹ Revised