Northern Ireland: milk prices plummet 38%, reflecting dynamic changes in october 2023
Source: The DairyNews
In a notable shift, milk prices have witnessed a substantial decline of over 38% in October 2023 compared to the same month last year, as per the latest data released by the Central Statistics Office (CSO).
The Agricultural Output Price Index over the 12 months to October 2023 has experienced a 16.7% drop, while the Agricultural Input Price Index followed suit with a 14.8% decrease during the same period.
The Agricultural Price Indices report for October 2023, published on Monday, December 11, reveals a 31.6% reduction in cereal prices over the year, with a slight dip of 0.5% in cattle prices. Conversely, pig prices surged by 9.6%, sheep saw a 2.3% increase, poultry rose by 3.6%, and egg prices went up by almost 7%.
Noteworthy spikes were observed in the prices of potatoes, soaring by 65.7%, and vegetables, which experienced a 14.6% increase.
Over the 12 months ending October 2023, the CSO reported significant decreases in input prices, notably fertiliser (-47%), feed (-11.1%), and energy (-6.7%). Electricity prices experienced a 5.3% decline, motor fuels fell by 7.4%, and lubricants witnessed a 3.8% drop.
While veterinary expenses for farmers increased by 6% during the year, the cost of plant protection products rose by 7.6%.
The Agricultural Price Indices report for October 2023, published on Monday, December 11, reveals a 31.6% reduction in cereal prices over the year, with a slight dip of 0.5% in cattle prices. Conversely, pig prices surged by 9.6%, sheep saw a 2.3% increase, poultry rose by 3.6%, and egg prices went up by almost 7%.
Noteworthy spikes were observed in the prices of potatoes, soaring by 65.7%, and vegetables, which experienced a 14.6% increase.
Over the 12 months ending October 2023, the CSO reported significant decreases in input prices, notably fertiliser (-47%), feed (-11.1%), and energy (-6.7%). Electricity prices experienced a 5.3% decline, motor fuels fell by 7.4%, and lubricants witnessed a 3.8% drop.
While veterinary expenses for farmers increased by 6% during the year, the cost of plant protection products rose by 7.6%.
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