Cereal prices are projected to fall by one third in 2023, according to preliminary figures released by the Central Statistics Office (CSO).

With volume also decreasing, the value of cereals is expected to almost halve this year, compared with last year.

A decrease in the value of cereals by €333m to €362 represents a 48% decline.

The value of crops is estimated to fall by 11% - a drop of €299m to €2.3bn.


Milk price is projected to be down 27% in 2023, compared with 2022.

This price drop, coupled with an expected minor decrease in the volume of milk produced this year, sees the value of milk production forecast to contract by almost €1.4bn to €3.6bn in 2023.

Overall, the price paid for agricultural commodities is expected to decrease by 12% in 2023 - a drop of €1.6b to €11.3bn for farmers.

Pigs and poultry

Pigs and poultry are the only agricultural commodities expected to increase in value in 2023.

Pig price is projected to be up 22% in 2023.

Volume is down 8%, meaning the value of pig production is estimated to go up by €74m to €694m.

Poultry price this year is estimated to rise 6% on last year. Its value increased by €21m to €226m – up 11%.

Cattle and sheep

Cattle and sheep saw relatively small reductions in value.

Cattle prices grew by 4% in 2023. Volume is estimated to be down by 5% by the end of the year.

Sheep price is 3% behind 2022 levels. Volume increased by 1% this year, compared with last.


Fertiliser price was down 22% in 2023. Coupled with a lower quantity used, the cost of fertiliser as an input on farms is back 32%.


A 32% drop is expected to the value of agricultural commodities in 2023, after inputs are considered.

The drop of €1.5bn to €3.2bn this year is being attributed primarily to the sharp reduction in the value of milk and cereals.

These figures are estimates from the CSO for 2023.

Read more

Milk intake down 12.6% for October