The value of output from agriculture this year will be down 8% compared to 2022, according to the Central Statistics Office.
The CSO says the decrease is mainly due to a drop in milk prices paid to farmers of 28%.
The decrease masks estimated increases in prices paid to farmers in some sectors, with pig prices up 22%, potato prices up 17%, poultry up 5.6% and cattle up 3.7%.
The price farmers paid for farm inputs will likely fall by 5.2% overall, a drop that is significantly affected by a reduction in fertiliser prices of 30%.
However, price increases are expected for pesticides, veterinary expenses and feed prices, which will rise by 8.8%, 6.1% and 2.8% respectively.