New figures from the Central Statistics Office show that the price of fertiliser soared by 177.8% in April compared to the same month last year.
The increase comes as Russia's attack on Ukraine continues. The two countries are major global suppliers of fertiliser, with Russia also a significant fuel supplier.
The CSO said the rising trend of input price increases was also seen in energy and feed prices which are up 43% and 27.3% respectively in the year.
Increases were also seen in the output price sub-indices where the monthly price of milk has risen by 6.6% in April compared to March and is up almost 40% in the year while cattle prices are up almost 21% on an annual basis.
The CSO said its overall agricultural input price index increased by 39.6% in the year from April 2021, while the agricultural output price index grew by 24% over the same time frame.
Today's CSO figures show that monthly pig prices rose by 16.7%, while milk prices were up 6.6%. On a monthly basis, fertiliser prices were up 16.1% and feed prices rose by 5.3%.
As a result, the terms of trade for April this year was up by 0.3%, the CSO said.
