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Farmer input cost increases rose more than farm output prices were upped over the year from November 2021 to November 2022, Central Statistics Office (CSO) data has shown.
The input cost hike was driven by more expensive quotes for fertilisers, feed and energy.
Straight fertiliser prices more than doubled, while compound products increased by almost 90%.
Electricity costs on farms ballooned by almost two thirds and feed costs were 32% higher than they were the year previous over this reporting period.
The cost of electricity stayed at October’s levels into November, which was the highest they were all through 2022.
Diesel was up around 29% over this same timeframe.
Sectoral differences
Output price increases were recorded in the dairy, beef, tillage and pigs sectors, although the size of the increase differed greatly between these sectors.
Milk prices increased by 40%, pig prices by 43% and cereals by 48% over the year.
The cattle prices received by farmers only rose by 11% and sheep prices fell 6% in the 12 months from November 2021.
The CSO’s agricultural input price index increased only marginally from October to November last tear, meaning that the majority of the farm cost hike had occurred before this time.
Output prices were up more than input costs rose over the month.
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