Agricultural output price index up 20.7% in the 12 months to May
In the CSO's (Central Statistics Office) latest report, despite the rise over the past 12 months to May, compared to every month, the output price index dropped by 0.8% in the month since April.
The most significant output price increases in the 12 months to May 2025 were in wool, milk and cattle.
Wool has experienced an annual increase of 31.9%. However, this figure solely rides on the increase experienced from April to May of this year within the index. The wool output price index remained static at 106.3 for the last 11 months, only to jump to 140.2 in May 2025, contributing to an almost 32% increase.
The IFA (Irish Farmers' Association) has said the sudden uptick occurring in May is the result of improved wool demand, with auction prices also up compared to previous months. These higher prices secured by farmers are only returning to them in recent months, in line with normal selling time and payment arrangements in place for some sellers.
IFA Sheep Chair Adrian Gallagher said: 'The increase in wool prices is a welcome move in the right direction, but there is still a journey for wool prices to travel to cover the shearing costs and leave a margin for the farmer.'
Sheep have also received a 7% drop in the output price index in the 12 months leading up to May of this year.
Cattle saw an annual increase of 48% in the output price. Cattle excluding calves increased by 47.5% and calves secured an increase of 123.9% with the output price index sitting at 116.7 in May 2024 and 261.2 in May of this year.
Milk has also seen an annual increase of 14.2% in the output price index despite experiencing a 0.8% drop when comparing April and May of this year.
Potatoes have received the most significant drop in the output price index, with potatoes (including seeds) dropping by 15.1%. Amongst other crops, cereals (with seeds) experienced an annual drop of 0.2%, vegetables a drop of 1% and 'industrial and forage' an increase of 3.4%.
The agricultural input price index rose slightly by 0.1% in the 12 months to May but dropped by 0.2% when compared monthly to April.
Commenting on the release, Senior Statistician in the Agriculture Division, Sam Scriven, said: 'Within the Input Price Index, Fertilisers rose by 10.2% while Motor Fuels (-8.0%), and Feeding Stuffs (-2.3%) were lower than in May 2024."
Breaking down the fertiliser index further, straight fertilisers experienced the largest annual increase in the input price index, with a jump of 14%. On an annual basis, NPK fertilisers rose by 9.8%, compound fertilisers rose by 9.4%, NP and PK fertilisers rose by 3.8% and 'other' fertilisers experienced an increase of 1%.
Veterinary expenses also rose by 4.7% in the 12 months to May. Although the input price for veterinary expenses has risen in the last 12 months, the price index has remained stationary at 120.3 since January.
Terms of Trade fell by 0.6% in May 2025 when compared with the previous month and were 20.6% higher when compared with May 2024.
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