Fertiliser price has nearly tripled in past year

/ 14th June 2022 /

The price of fertiliser nearly tripled in the year to April, according to the Central Statistics Office (CSO), while other input prices in the agricultural sector rose close to 40% in that time.

Fertiliser prices rose 178% in the 12 months to April while agricultural input and output prices rose 40% and 24%, respectively, year-on-year on the back of spiralling energy (43%) and feed (27%) costs.

"The most significant change is in the price of fertilisers where the price index is up 16% in the month from March 2022 and has increased by 178% in the year from April 2021," said Anthony Dawson, statistician at the CSO.

"Increases can also been seen in the output price sub-indices where the monthly price of milk has risen by 6.6% in the month from March 2022 and is up almost 40% in the year while cattle prices are up almost 21% annually."

On a month-on-month basis, agricultural price input indices rose 4.8% and output prices increased 5.1% in April, driven by surges the price of pigs (+16.7%), feed (+5.3%), and milk prices and fertiliser as mentioned.

Agricultural trade fell 11.2% year-on-year in April, but trade was up slightly from March (+0.3%).

Teagasc survey

The latest CSO figures came as Teagasc's National Farm Survey revealed that income for the average family farm increased 26% to €34,300 last year, rising to €97,000 for dairy farmers (+23%) and €59,000 for tillage farmers (+77%).

Cattles farms also saw income increase 30% to €11,000 while incomes for those who purchase cattle for fattening and finishing rose 6% to €16,400, and sheep farmers' income was 14% year-on-year to €20,500.

The report found that half of farms are dairy farms, with cattle rearing (6%), cattle other (17%), sheep (10%), tillage (13%) and mixed livestock (3%) farms making up the remainder.

Just over four in 10 farms are counted as 'viable' and 29% were judged to be 'sustainable', and 54% of farm households now have off-farm employment. Furthermore, 63% of farms have no debt and on-farm investments were up 36% to €1.4bn last year.

(Pic: Getty Images)