Severe weather events add €500m to feed costs

Severe weather events add €500m to feed costs
File photo

Extreme weather events were central to farmers taking a hit of more than €500m in increased feed, forage and fertiliser costs during 2018, according to the ICMSA.

The CSO’s figures for output, input and income in agriculture reveal a 16.8% reduction in operating surplus, with severe weather conditions resulting in a 13% increase in the cost of inputs.

To help farmers better manage the resulting income volatility, the ICMSA is urging the Department of Agriculture to accelerate the introduction of the Farm Management Deposit Scheme, ideally to be implemented as part of Budget 2020.

ICMSA president, Pat McCormack, said: “In terms of financial impact on farmers, the figures are catastrophic and show the cost of feed increasing by €355m, forage costs by almost €200m and fertiliser by almost €70m giving an accurate idea of the challenge that Irish farming faced in 2018.

In general terms, the costs borne by Irish farmers last year went up by more than half a billion euro.

"We desperately and obviously need measures that can address that destructive cycle and a proven solution, the Farm Management Deposit Scheme, needs to be introduced as a matter of urgency,” said Mr McCormack.

More on this topic

Seafood sector needs to have an innovation driveSeafood sector needs to have an innovation drive

EU deal with Mercosur faces many high hurdlesEU deal with Mercosur faces many high hurdles

Teagasc and IMP Group enter new potato dealTeagasc and IMP Group enter new potato deal

‘Green-fingered’ students transform gardens‘Green-fingered’ students transform gardens

More in this Section

€100m worth of dangerous items in fake foods and drinks seized across Europe€100m worth of dangerous items in fake foods and drinks seized across Europe

Minister opts not to allow August road hedge cuttingMinister opts not to allow August road hedge cutting

European farmer co-ops urge AGRI to conclude CAP talks and oppose negative effects of Mercusor dealEuropean farmer co-ops urge AGRI to conclude CAP talks and oppose negative effects of Mercusor deal

Mushroom composters recognise importance of local straw supply after shortages Mushroom composters recognise importance of local straw supply after shortages


Lifestyle

Whether it’s wearing acid-washed jeans or booty shorts, the model is a denim chameleon.As she lands a big new campaign, here’s why Kendall Jenner is a denim icon

Don’t want to just chuck away all that clutter? Gabrielle Fagan reveals simple ways to get it out of sight.Seek and hide: 6 storage solutions to keep you and your rooms cool and calm this summer

From playsuits to parkas, here’s what to pack, whatever the weather. By Katie Wright.The beginner’s guide to festival fashion

Hate delegating, constantly check emails and scared to take holiday? Being too tied to work could be damaging your wellbeing.Has worrying about work taken over your life? 6 signs that you might have work separation anxiety

More From The Irish Examiner