New figures from the Central Statistics Office today show that fertiliser and feed prices soared by 144.7% and 32.2% respectively in the year to June.
The CSO's latest Agricultural Price Indices for June also show that the energy price index increased by 7.6% since the previous month and was up by a huge 60.2% compared to June 2021.
Increases can also be seen in the output price sub-indices where the price of milk has risen by 44.9% in the year, while cattle prices have increased by more than 27% annually.
The CSO said the monthly agricultural output price index is up 1.7%, while the input price index is down by 0.1% in the month from May to June.
A more detailed look at the monthly output sub-indices shows a 2.2% increase in pig prices and cattle prices, while the monthly input sub-indices saw growth in energy prices of 7.6% but a reduction in the price of fertilisers, which fell by 6.3%.
As a result, the terms of trade for June was up by 1.6%, the CSO said.
On an annual basis, the CSO said its overall Agricultural Input Prices Index is up 40.2% while the Output Price Index is up 29.8%.
The Irish Farmers' Association said the data shows that better prices for farm commodities are being wiped out by unprecedented increases in the cost of inputs.
'It’s simply just not sustainable at current levels, and the fear is where costs will go in the months ahead with all the volatility on international markets, from multiple perspectives," said IFA Farm Business Chair Rose Mary McDonagh.
"Farmers cannot be expected to carry on regardless. Many operations will simply go out of business if targeted measures aren’t introduced. Unlike others, farmers haven’t the luxury of being able to pass on the added cost of production to others, and so cannot be left to carry all the risk."
