Farm input prices grew by 36.9% in the year up to August, while the prices farmers received for outputs rose by only 29.2% in the year up to September, according to the Central Statistics Office (CSO).

The largest rise of any farm input was seen with fertiliser, the price of which increased by over 120% over 12 months.

Energy costs were also up 40% and animal feeds up by one third over the same period.

The cost of fertiliser and energy grew by 1.5% and 0.8% over the month of August alone.

Outputs

On the output side of the CSO data, the price of milk has risen by 49% and cereal prices followed closely with a 47% increase. Pig prices rose by 34%.

The situation for the beef and sheep sectors did not reflect this level of price growth, as in September cattle were selling for only 13% higher than they were last year and sheep only made 2% more.

Vegetable prices also lagged, with less than 2% of a price rise over the entire 12-month reporting period.