Milk prices tumbled by 27.3% in the year up to January 2026, a new report from the Central Statistics Office (CSO) shows.

The agricultural output price index for January 2026 was down by 6.6%.

Sam Scriven, senior statistician in the CSO Agriculture Division, said that prices for sheep and pigs both dropped by 14% when compared to January 2025.

Prices for cereals (including seeds) were back 9%, vegetables decreased by 7.5% and potatoes were down by 25%.

However, Scriven noted that cattle prices jumped by almost 22% in the period, while the price index for calves rose by 31%.

Poultry prices recorded an increase of 5.3% compared to January 2025, while wool was up by 32%.

The agricultural output price index for January 2026 rose by 0.9% in the month since December 2025 

CSO

In the 12 months to January 2026, the agricultural input price index rose by 2.1%.

The data shows there were price increases recorded for fertilisers (11.6%), veterinary expenses (7%), and electricity (4.6%) in the period.

Feeding stuffs were down 1%, motor fuels decreased by 4.6% and seeds fell by 2%.

The CSO said the agricultural input price index rose marginally by 0.5% on the previous month.

The terms of trade, which is a measure of a country’s export prices relative to its import prices, rose by 0.4% in January 2026 when compared with the previous month and was 8.5% lower when compared with January 2025.