Almost all farm input prices increased in July compared to the same month last year, with feed and fertiliser prices continuing to rise.
Central Statistics Office (CSO) data for July shows fertiliser costs increased by over 20% compared to last year and by 1.8% since June.
Straight fertilisers such as urea and nitrogen were up 27.7% on last year in July, with both straight and compound fertilisers up in the region of 2% since June.
Feed prices rose 11% overall in July 2020, with feedstuffs for cattle (excluding calves) up 12.2%.
As a result of straights rising by 16% year-on-year in July, the price of compound feedstuffs increased by almost 11%. Poor wheat harvests in South America and France due to poor weather in early summer are some of the key price drivers.
Energy costs on the whole are up 17.5%, with motor fuels increasing by 3.5% on last month’s price, as well as electricity costs rising by 2.9% for the same period.
Some good news
Seed prices, veterinary expenses and poultry feedstuff saw no increase from June to July, but were up 9.4%, 1.2% and 7.1% on July 2020 respectively.