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Agricultural Price Indices - Preliminary Estimates 2023

Preliminary Estimates indicate a decrease of 8.0% in the Agricultural Output Price Index for 2023

CSO statistical publication, 03 November 2023, 11am

Key Findings

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.

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."

Tables and Graphs

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%

Open in Excel: Agricultural Prices Preliminary Estimates 2023 HT (XLS 31KB)

	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

Table 1 Agricultural Output Price Index 2023 - Preliminary estimates (excl VAT)

	Cattle	Sheep	Pigs	Poultry	Milk	Potatoes
2023	3.7	-2.5	21.9	5.6	-27.8	17.4

Table 2 Agricultural Input Price Index 2023 - Preliminary estimates (excl VAT)

	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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Table 1 Agricultural Output Price Index 2023 - Preliminary estimates (excl VAT)
Category					Base Year 2015 = 100
Category		2015	2016	2017	2018	2019	2020	2021	2022	2023	2023/2022
Agricultural Output Price Index		100.0	95.1	106.5	104.4	103.3	104.0	116.1	148.5	136.6	-8.0%

Animals		100.0	95.4	97.8	95.1	93.6	98.3	107.2	123.6	131.1	6.1%
	Cattle	100.0	93.0	94.7	93.4	88.1	92.6	104.7	122.6	127.2	3.7%
	Sheep	100.0	99.9	99.7	105.1	99.0	109.4	133.2	137.2	133.8	-2.5%
	Pigs	100.0	102.6	110.4	96.5	114.3	118.2	106.9	123.6	150.6	21.9%
	Poultry	100.0	99.5	99.2	99.5	100.2	100.3	102.1	115.2	121.7	5.6%
	Milk	100.0	91.0	121.3	114.3	109.1	109.9	128.3	187.4	135.4	-27.8%

Crop Output		100.0	106.1	104.1	119.6	131.7	114.1	123.8	151.8	166.2	9.4%
	Cereals (including seeds)	100.0	101.3	101.9	123.9	133.1	111.6	131.7	185.1	197.8	6.9%
	Potatoes (including seeds)	100.0	128.5	117.2	140.4	185.6	140.0	145.9	158.7	186.3	17.4%
	Fruit and Vegetables	100.0	101.5	100.9	106.9	108.3	105.9	107.3	117.2	127.6	8.9%

Table 2 Agricultural Input Price Index 2023 - Preliminary estimates (excl VAT)
Category	Base year 2015=100
Category	2015	2016	2017	2018	2019	2020	2021	2022	2023	2023/2022
Agricultural Input Price Index	100.0	97.9	98.2	102.7	105.0	102.2	111.9	151.2	143.4	-5.2%

Feeding Stuffs	100.0	100.0	100.6	107.2	110.4	108.3	119.5	154.7	159.0	2.8%
Fertilisers	100.0	86.2	81.5	86.4	90.9	81.3	101.8	226.9	157.9	-30.4%
Seeds	100.0	98.5	98.5	98.2	106.8	102.0	109.4	123.3	132.2	7.3%
Energy	100.0	91.9	97.8	106.5	106.5	98.0	112.9	160.6	156.1	-2.8%
Plant Protection Products	100.0	102.3	103.1	103.9	103.8	104.1	104.9	126.0	137.2	8.8%
Veterinary Expenses	100.0	101.9	102.1	105.3	107.5	109.0	110.3	113.4	120.4	6.1%

Agricultural Price Indices - Preliminary Estimates 2023