Prices paid for farmers’ produce drop 2.2%
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
