Fertiliser prices were down by 25% in May when compared to the same month in the previous year, according to the Central Statistics Office (CSO).

The data published today (Monday, July 15) shows that in the 12 months to May 2024, the Agricultural Input Price Index dropped by 10.4% overall.

In that period, electricity prices were down almost 21% and feed decreased by 16% on May 2023 levels.

However, motor fuels were up by 15.6%, veterinary expenses rose by 4%, maintenance of materials and buildings climbed 3.2% and plant protection products prices increased 2.4%.

The CSO data shows that the Agricultural Output Price Index rose by 1.1% in the year up to May 2024.

The most significant output price decreases were in cereals (-31.4%), industrial and forage crops (-26.4%), eggs (-3.7%), pigs (-2.7%) and cattle (-1.6%).

There were increases recorded in the price of potatoes (68.4%), sheep (22.4%), vegetables (8.3%) and milk (4.9%).

Commenting on the data Giselle Myles, statistician in the CSO Agriculture Division, said:

"Output price sub-indices increases were seen in all the indices, when compared with previous month, with the exception of vegetables, cattle, and cattle excluding calves that decreased by 5.1%, 0.4%, and 0.6% with respect to April 2024.

"More generally, the monthly agricultural output price index was up 0.9% and the input price index was down by 1.4% in the month from April 2024 to May 2024.

"Looking at the monthly input sub-indices, we can see that fertilisers and feeding stuff showed the higher contractions with -3.0% and -2.3% respectively. As a result, the terms of trade for May 2024 was up by 2.4%."