The agricultural output price index decreased by 5% in the year to May 2020, while the crops output index fell by 21.9%, with potato output dropping by 39.2%, according to the Central Statistics Office.

The agricultural input price index decreased by 4% in the year to May 2020, while energy index prices fell by 16%, with motor fuels dropping by 20.9%.

Meanwhile, the agricultural output price index increased by 2.2% in May 2020 compared with April 2020.

A further comparison of the May 2020 output sub-indices with the May 2019 sub-indices shows that sheep and pigs increased by 6.3% and 4.7% respectively.

Methodology

The actual prices used for the index series are based on the market price without the deduction of bonuses, taxes or levies, with the exception of deductible value added tax and third party levies. The CSO indices continually monitor trends in prices paid to farmers for their produce and in prices paid by farmers for purchases of goods and services.

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Drop in CSO's agricultural output price index

According to the latest CSO figures, there was a 5% drop in the agricultural output price index in the year to May 2020. Crop output index prices saw the most significant fall.