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Agricultural Price Indices September 2023

Milk Price Index down 37.4% in the year to September 2023

Online ISSN: 2009-5163
CSO statistical publication, , 11am

Key Findings

  • In the 12 months to September 2023, the Agricultural Output Price Index was down 16.2%, while the Agricultural Input Price Index fell by 12.3% over the same period.

  • The most significant Output price decreases in the 12 months to September 2023 were in milk (-37.4%), cereals (-31.6%), and cattle (-1.0%), while increases were recorded in potatoes (+38.0%), eggs (+14.2%), vegetables (+13.4%), and pig prices (+9.6%).

  • Over the 12 months to September 2023, significant Input price decreases were recorded in fertiliser (-45.4%) and feed prices (-8.3%), while electricity prices increased by 23.5%.

  • The annual terms of trade was down by 4.5% when compared with September 2022.

  • On a monthly basis, the Agricultural Output Price Index rose by 3.6% when compared with August 2023.

  • The Agricultural Input Price Index for September 2023 was up by 0.1% in comparison with August 2023.

  • The monthly terms of trade was up 3.5% in September 2023 when compared with the previous month.

Statistician's Comment

The Central Statistics Office (CSO) has today (10 November 2023) released Agricultural Price Indices September 2023.

Commenting on the release Dr Grzegorz Głaczyński, Statistician in the Agriculture Division, said: "Today's release details Agricultural Price Indices for September 2023. On a monthly basis the Agricultural Output Price index was up by 3.6%, while the Agricultural Input Price index grew by 0.1%, when compared with August 2023.

The most noticeable monthly increases in the Output Price sub-indices were in the price of crops which rose by 20.5% and cattle prices by 1.8%, compared with August 2023. For the monthly Input Price sub-indices, a decline of 1.7% was recorded in feed prices, while motor fuel prices went up by 8.8%.

Analysing Output prices in the 12 months since September 2022, growth has been observed in potatoes (+38.0%), eggs (+14.2%), and vegetable prices (+13.4%), while the milk price was down by 37.4%.

Inspecting Input prices over the last 12 months, there has been noteworthy growth in electricity (+23.5%) and plant protection product prices (+7.6%), while an overall decrease was recorded in fertiliser prices (-45.4%) over the same period."

Headline Table and Graph

Figure 1 shows both the Agricultural Input Price Index and the Agricultural Output Price Index.

Agricultural Price Indices - September 2023
 OutputInputTerms of Trade
 Base year 2015=100
September 2022154.9155.899.4
August 2023125.3136.691.7
September 2023129.8136.794.9
Monthly % Change3.6%0.1%3.5%
Annual % Change-16.2%-12.3%-4.5%
Figure 1 - Agricultural Input and Output Price Indices (Base 2015=100)
Table 1 Agricultural Output Price Index (excluding VAT)

Table 2 Agricultural Input Price Index (excluding VAT)