Value of Irish agricultural output jumps 24% to €12.6bn on back of higher prices

The value of Irish agricultural output – at basic prices – rose by 24 per cent or €2.5 billion to a record €12.6 billion last year, according new figures from the Central Statistics Office (CSO). The increase was primarily due to to large increases in the price of many agricultural outputs, the agency said.

The value of milk output here rose by 46 per cent per cent (€1.6bn) to €5 billion. A breakdown of the figures show 45 per cent of this was down to higher prices while just 1 per cent reflected increased production volumes.

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The value of livestock grew by 14 per cent to €4.5 billion last year, with prices rising 18 per cent and volumes contracting 1 per cent. Cattle accounted for most of this growth, contributing €3 billion to the value of agricultural output, the CSO said.

Crop values rose by 13 per cent to €2.4 billion, with prices rising by 53 per cent and volumes falling by 4 per cent. Within this category cereal values increased by 49 per cent to €649 million.

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While significant information is still outstanding in relation to input costs, the CSO estimated that intermediate consumption costs – a proxy for input inflation – grew by 26 per cent to €7.7 billion in 2022.

The two main drivers were feeding stuffs and fertiliser. Feeding stuffs, which account for a third of intermediate consumption costs, increased by 29 per cent, while fertiliser prices experienced the largest increase of all input costs (+137 per cent), resulting in the cost of these items almost doubling to €1.2 billion. The surge in fertiliser costs was strongly linked to Russia’s invasion of Ukraine, which triggered a major shortage of fertiliser globally.

The State’s agricultural operating surplus increased by 25 per cent to €4.6 billion last year.

The CSO’s Mairead Griffin said: “This release provides a second estimate of the value of agricultural outputs, inputs, and income for 2022. While it should be noted that many values are still provisional and will be revised in our final estimates next June, it is nevertheless an important update on the performance of the agricultural sector.”