The Central Statistics Office (CSO) reported a 10% decline in the annual agricultural input price index for 2024 compared to 2023. This decline was largely due to a 24.2% decrease in fertilizer prices and a 17.7% drop in electricity costs. Conversely, plant protection products and veterinary expenses saw increases of 4.3% and 4.1%, respectively.
Monthly data showed the agricultural input price index rose by less than 1% from November to December 2024, marking a 4.8% decrease from December 2023. The monthly output price index increased by 1.6% in December 2024 and was up by 20.4% compared to the same month in the previous year. Notable monthly output price increases were observed in milk (36.5%), sheep (27%), and cattle (15.4%), while potatoes and vegetables saw declines of 11% and 0.4%, respectively.
Over the 12 months to December 2024, input price indices for fertilizers, electricity, and feed fell by 9.1%, 8.3%, and 7.8%, respectively. Plant protection products rose by 4.8%. Dr. Nele van der Wielen from the CSO Agriculture Division stated, "The release details agricultural price indices for December 2024 and the full year of 2024."
Source: Agriland