Ireland: Agricultural Market Sees Significant Price Changes in 2025
Source: dairynews.today
The latest CSO report highlights major shifts in agricultural output and input prices in Ireland, with notable increases in cattle, sheep, and milk prices.
The Central Statistics Office (CSO) has released its agricultural price indices report for February 2025, revealing a substantial rise in key agricultural commodities over the past year. According to the data, the agricultural output price index surged by 20.2% over the 12 months leading to February 2025, while the input price index decreased by 3.1%. Notably, cattle prices increased by 27.2%, milk by 24.4%, and sheep by 23.8%.
While the output prices rose, there were significant reductions in input costs, particularly in electricity (-7.0%), feed (-6.6%), and fertilisers (-3.3%). Despite these decreases, costs for plant protection products and veterinary expenses increased by 4.8% and 4.7%, respectively.
In terms of trade, the CSO data pointed to a 1.8% increase in February 2025 compared to the previous month and a remarkable 24.1% rise from February 2024. These shifts indicate dynamic changes in the agricultural sector, reflecting economic and climatic factors influencing price and market behavior. Furthermore, the Department of Agriculture, Environment and Rural Affairs (DAERA) in Northern Ireland reported a dramatic 110% increase in the gross turnover of the food and drinks sector between 2021 and 2022, amounting to £6,516 million. Projections for 2023 estimate a further increase of 9.4% to £7,128 million.
The food and drinks sector continues to be a major contributor to manufacturing output and employment, though its share of total manufacturing has slightly decreased.
While the output prices rose, there were significant reductions in input costs, particularly in electricity (-7.0%), feed (-6.6%), and fertilisers (-3.3%). Despite these decreases, costs for plant protection products and veterinary expenses increased by 4.8% and 4.7%, respectively.
In terms of trade, the CSO data pointed to a 1.8% increase in February 2025 compared to the previous month and a remarkable 24.1% rise from February 2024. These shifts indicate dynamic changes in the agricultural sector, reflecting economic and climatic factors influencing price and market behavior. Furthermore, the Department of Agriculture, Environment and Rural Affairs (DAERA) in Northern Ireland reported a dramatic 110% increase in the gross turnover of the food and drinks sector between 2021 and 2022, amounting to £6,516 million. Projections for 2023 estimate a further increase of 9.4% to £7,128 million.
The food and drinks sector continues to be a major contributor to manufacturing output and employment, though its share of total manufacturing has slightly decreased.
