There was a 24.2% reduction in fertiliser and 17.7% drop in electricity costs in 2024, according to the Central Statistics Office (CSO).
The data comes from the CSO’s Agricultural Price Indices for 2024, which show that the annual input prices for agriculture dropped by 10% compared to 2023, excluding VAT.
This marks the second consecutive drop in the agricultural input price index, after reaching a five-year high in 2022.
In terms of fertilisers, the input price index of straight fertilisers and compound fertilisers, with the largest drop was recorded for phosphorus and potassium fertilisers, down 30.5%.
In addition, straight and compound animal feed prices were down on average by 13.7%.
Expenses
On the other side of the coin, the most notable annual increases were in plant protection products (4.3%) and veterinary expenses (4.1%).
The annual price index reflects the mean or average monthly price index over the 12 calendar months of the year.
Motor fuels and lubricants saw increases by 0.7% and 1.9%, respectively.
Meanwhile, maintenance of materials and buildings also saw an increase of 3% and the price of seeds remained the same.
Output prices
The annual output price indices showed that cereals and forage prices were down by 21.1% and 16.1% respectively in 2024, while potatoes rose by 28%, sheep were up 17.6% and milk rose by 16.3%.
In addition, animal output increased by 9.8% on average. This includes a 4.9% increase to cattle price, a 5.4% increase for calves and a decrease in price of 1.2% for pigs.
Animal products overall rose by 15.7%. This was mostly due to milk, as wool remained the same output price and eggs fell by 2%.
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There was a 24.2% reduction in fertiliser and 17.7% drop in electricity costs in 2024, according to the Central Statistics Office (CSO).
The data comes from the CSO’s Agricultural Price Indices for 2024, which show that the annual input prices for agriculture dropped by 10% compared to 2023, excluding VAT.
This marks the second consecutive drop in the agricultural input price index, after reaching a five-year high in 2022.
In terms of fertilisers, the input price index of straight fertilisers and compound fertilisers, with the largest drop was recorded for phosphorus and potassium fertilisers, down 30.5%.
In addition, straight and compound animal feed prices were down on average by 13.7%.
Expenses
On the other side of the coin, the most notable annual increases were in plant protection products (4.3%) and veterinary expenses (4.1%).
The annual price index reflects the mean or average monthly price index over the 12 calendar months of the year.
Motor fuels and lubricants saw increases by 0.7% and 1.9%, respectively.
Meanwhile, maintenance of materials and buildings also saw an increase of 3% and the price of seeds remained the same.
Output prices
The annual output price indices showed that cereals and forage prices were down by 21.1% and 16.1% respectively in 2024, while potatoes rose by 28%, sheep were up 17.6% and milk rose by 16.3%.
In addition, animal output increased by 9.8% on average. This includes a 4.9% increase to cattle price, a 5.4% increase for calves and a decrease in price of 1.2% for pigs.
Animal products overall rose by 15.7%. This was mostly due to milk, as wool remained the same output price and eggs fell by 2%.
Read more
Selling live or finish out of the shed? Doing up the sums
Tirlán makes changes to its bonus system for suppliers
Opinion: fair food pricing may test CAP commitment of consumers
Positive price outlook for all sectors in 2025
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