Agricultural feed costs have continued to increase, month on month and year on year, according to the Central Statistics Office (CSO).

In its latest agricultural input price index, the CSO found that feed costs are up by 34.2% in the year to July 2022 and that between June and July of this year alone, prices increased by some 2.2%.

Within this, farmers’ straight feed costs, such as for barley and oats, have increased by a higher 44.3% since July 2021.

However, the CSO analysis indicates that this trend may be beginning to plateau, with straight feed costs down 0.5% since June 2022.

Compound feed

Meanwhile, the input price index shows compound feed costs are up 33.6% in the year and 2.4% since June.

Costs for feed for calves, other cattle, pigs and poultry have all increased to a similar degree since last year. However, pig feed costs have seen the biggest monthly increase, up some 4.4% since June, twice the rate for all straight feed.

The ongoing trend of higher prices in farm feed costs was described as the “most notable change” in the agricultural input price index by CSO statistician Anthony Dawson.

Fertiliser

The CSO found that fertiliser prices also increased year on year, up 133.8% since July 2021. However, the analysis shows prices started to decrease in mid-summer, with a drop of 2.7% seen since June.

Within the fertiliser trade, straight fertilisers have seen the biggest price increase and the largest monthly price decrease, with prices up 165% since July 2021, but down 3.9% since June of this year respectively.

Compound fertiliser prices paid by farmers are up 123% since July 2021, but down some 1.9% since June 2022.

Energy

Elsewhere, farm energy costs are up some 51.3% in the year to July 2022, but down 2.8% since June, according to the CSO.

The office found electricity price increases as the main driver of the rise in energy prices, year on year, with farm electricity prices up 39.9%.

The CSO analysis indicates that prices are continuing to increase, albeit marginally, with the CSO finding prices in July were 0.8% higher than those paid in June.

Elsewhere, according to the CSO, seed, plant protection and veterinary expenses have all also increased for farmers, with prices up 12.5%, 23.7% and 2.8% year on year respectively.