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The Output Price Index is projected to decrease by 8.0% in 2023 mainly due to the drop in milk price of 27.8%, when compared with 2022.
Estimated increases are seen in pig (21.9%) and potato prices (17.4%).
Input Price Indices are projected to decline by 5.2% in 2023 when compared with 2022.
The estimated fall in the Input Price Index of 5.2% is significantly affected by a reduction in fertiliser prices of 30.4% in 2023. Additionally, energy prices are also estimated to reduce by 2.8% over the same period.
Growth is expected in plant protection products (+8.8%), veterinary expenses (+6.1%), and feed prices (+2.8%).
The annual Terms of Trade is anticipated to fall by 3.0% when compared with the year 2022.
| Agricultural Price Indices - Preliminary Estimates 2023 | |||
| Output | Input | Terms of Trade | |
| Base year 2015=100 | |||
| 2022 | 148.5 | 151.2 | 98.2 |
| 2023 | 136.6 | 143.4 | 95.2 |
| % Change | -8.0% | -5.2% | -3.0% |
| Total inputs | Total outputs | |
| 2017 | 98.219 | 106.458 |
| 2018 | 102.742 | 104.424 |
| 2019 | 105.041 | 103.298 |
| 2020 | 102.194 | 103.965 |
| 2021 | 111.92 | 116.12 |
| 2022 | 151.2 | 148.46 |
| 2023 | 143.42 | 136.58 |
| Cattle | Sheep | Pigs | Poultry | Milk | Potatoes | |
| 2023 | 3.7 | -2.5 | 21.9 | 5.6 | -27.8 | 17.4 |
| Feeding stuffs | Fertilisers | Seeds | Energy | Plant protection products | Veterinary expenses | |
| 2023 | 2.799 | -30.4 | 7.3 | -2.8 | 8.8 | 6.1 |
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Statistician's Comment
The Central Statistics Office (CSO) has today (03 November 2023) released Agricultural Price Indices - Preliminary Estimates 2023.
Commenting on the publication Dr Grzegorz Głaczyński, Statistician in the Agriculture Section of the CSO said: "Today's release details Annual Preliminary Estimates in the Agricultural Input and Output Price Indices 2023. Estimations for both Input and Output Price Indices show a drop when compared with 2022, of 5.2% and 8.0% respectively. The Preliminary Agricultural Input Price Index presents a notable decline in Fertiliser prices of 30.4% when compared with 2022. Preliminary projections indicate a rise in Plant Protection Product prices of 8.8% when compared with 2022. The estimates of the Output Price Indices suggest a notable fall in Milk prices (-27.8%), increases in Pig (21.9%) and Potatoes (17.4%) when compared with 2022. Preliminary estimates of the Terms of Trade show a decrease of 3.0% when compared with the previous year."