The Central Statistics Office (CSO) has said that milk prices increased by 29.5% in the 12 months up to January 2023.
According to the Agricultural Price Indices published today (Monday, March 13), output prices rose by 24.2% and input prices were up by 20.6% over the same period.
The most significant output price increases were recorded in cereals which jumped by 47.5% and pig prices which rose by 43.3%.
Although milk prices rose by nearly 30%, it should be noted that 2023 has begun with price cuts across the board from processors.
Cattle prices increased by almost a fifth over the past 12 months. Poultry prices rose by 8% in the period, while sheep prices were down by 7%.
The Agricultural Input Price Index shows that fertiliser prices rose by 29% in January 2023 when compared with the same month in 2022.
Feed prices were up by almost 28% and energy prices jumped by 24%.
There was a 63% increase in the price of electricity in the year, while motor fuel prices rose by 12%.
The average price of plant protection products was up by 24% and veterinary expenses rose by nearly 3%.
CSO
On a monthly basis, the Agricultural Output Price Index decreased by 3.6% when compared with December 2022.
The Agricultural Input Price Index for January 2023 was down marginally (-0.1%) in comparison with December 2022.
Commenting on the data, Donal Kelly, senior statistician in the CSO Agriculture Division said:
“The most significant monthly changes in the output price sub-indices were in the price of milk, which fell by 9.8% while cattle prices were up by 5.2%.
“Overall, the monthly input price sub-indices show little change, though there was a drop of 2% in fertiliser prices,” he said.