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In the 12 months to November 2024, the Agricultural Output Price Index rose by 21.9%, while the Agricultural Input Price Index dropped by 5.7% over the same period.
The Agricultural Output Price Index for November 2024 was up by 1.9% when compared with October 2024.
On a monthly basis, the Agricultural Input Price Index for November 2024 rose marginally by 0.5% when compared with October 2024.
The most significant Output Price increases in the 12 months to November 2024 were in Milk (+41.9%), Sheep (+19.3%), and Cattle (+15.9%), while decreases were recorded in Potatoes (-7.8%) and Vegetables (-2.4%).
Over the 12 months to November 2024, there were significant reductions in the Input prices recorded for Fertilisers (-9.4%), Feed (-8.6%), and Electricity (-8.3%), while Plant Protection Products rose by 4.8%.
The monthly Terms of Trade rose by 1.4% in November 2024 when compared with the previous month. The annual Terms of Trade increased by 29.3% when compared with November 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 November 2023 to November 2024. The monthly Terms of Trade are shown below.
| Agricultural Price Indices - November 2024 | |||
| Output | Input | Terms of Trade | |
| Base year 2020=100 | |||
| November 2023 | 123.9 | 130.8 | 94.8 |
| October 2024 | 148.4 | 122.7 | 120.9 |
| November 2024 | 151.1 | 123.4 | 122.5 |
| Monthly % Change | 1.9% | 0.5% | 1.4% |
| Annual % Change | 21.9% | -5.7% | 29.3% |
Figure 2 displays a selection of input price indices.
Figure 3 shows the main components of the output price index of agricultural products from November 2023 to November 2024.
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Statistician's Comment
The Central Statistics Office (CSO) has today (14 January 2025) published Agricultural Price Indices November 2024.
Commenting on the release, Dr Nele van der Wielen, Statistician in the Agriculture Division, said: "From October 2024 to November 2024, the monthly Agricultural Output Price Index increased by 1.9%, while the Input Price Index was up marginally by 0.5%.
On an annual basis, the Agricultural Output Price Index rose by 21.9%, and the Input Price Index fell by 5.7%.
Looking at the monthly Output sub-indices, significant increases were seen in Milk (+41.9%), Sheep (+19.3%), and Cattle (+15.9%) over the 12 months to November 2024. Conversely, declines were seen in Potatoes (-7.8%) and Vegetables (-2.4%).
In the same period, substantial reductions in the Input sub-indices were recorded in Fertilisers (-9.4%), Feeding Stuffs (-8.6%) as well as for Electricity (-8.3%).”