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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

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