The cost of energy on Irish farms in June was 60.2% higher than the same month last year, according to the latest analysis by the Central Statistics Office (CSO).
The CSO agricultural input price index for June 2022 shows that farm energy prices were also up by 7.6% on the prices farmers paid in May.
The increase in farm energy costs has been driven primarily by a rise in the price farmers are paying for motor fuel. The CSO found that between June 2021 and June 2022, fuel prices increased by some 69.2%. Fuel prices at the beginning of the summer continued to rise, with a jump of 10.2% between May and June this year also.
The agricultural input price index also shows that farm electricity prices increased by some 41% when comparing June to the same month in 2021.
Fertiliser price drop
While all farm input costs are up year-on-year, the CSO found that fertiliser prices fell between May and June this year.
Fertiliser prices in June 2022 were up 144% in on June 2021, but when compared with the prices paid by farmers in May 2022, they were down some 6.3%.
Straight fertilisers, which increased in price by 182% during the year, decreased in price by 8.2% between May and June this year.
When comparing the compound fertiliser prices paid by farmers in June 2022 with the same month last year, the CSO recorded a 132% increase. However, the June prices this year were 5.2% lower than those paid in May.
Plant protection products increased in price by 23.9% year-on-year, with prices staying static between May and June this year.
Overall, animal feed prices paid by farmers increased by some 32% between June 2021 and the same month last year. Feed prices also increased between May and June this year, albeit slightly at an increase of 1.4%.
Straight animal feeds increased in price by 47% year-on-year and compound feed prices increased by 31.5% over the same period.
CSO statistician Anthony Dawson said: “The most notable change is in the price of energy, where the price index has increased by 7.6% since May 2022 and by 60.2% in the year from June 2021. This trend of input price increases is also seen in fertiliser and feed prices which are up 144.7% and 32.2% respectively in the year.”