Prices paid for farmers’ produce drop 2.2%

June 14, 2023

Returns to farmers for their produce have fallen overall from March to April this year, according to the latest figures from the CSO.

Output prices for produce fell 2.2%, heralding a general decline in returns to most farmers.

Dairy farmers in particular experienced a price fall 8.6% in the month, as processors have pulled back prices amidst an ongoing fall in prices on world markets.

Those rearing pigs benefitted from an uplift in output prices of 3.5%.

However, while overall output costs declined, input costs to farmers dropped even further, falling 3.3% from March to April.

This drop was heavily influenced in a steep drop in fertiliser costs of 14% in the period.

Taken on a 12 monthly basis from April 2022 to April 2023, fertiliser costs fell 28% .

The 12 month figures also show many farmers saw a jump in returns for produce.

Cereal prices were up 47%, pig prices rose 35% egg prices 23% and calf prices 16%.

Cost to farmers also rose in the 12 month period. Feed was up 16%, seed 7% and veterinary fees up 6%.

The figures come after Teagasc’s National Farm Income Survey showed dairy and tillage farmers had a bumper year in 2022, with dairy farm profits exceeding €150,000 and tillage farmers profits coming to €77,000.

Teagasc economists pointed out however that incomes in both sectors are set to drop significantly this year.

Article Source – Prices paid for farmers’ produce drop 2.2% – RTE

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