Farm investment could reach €1bn

FARMERS plan to invest €612 million in their farms this year, according to the findings of a Teagasc survey published yesterday.

Based on responses from 1,020 farms participating in the Teagasc National Farm Survey, planned investment by farmers in 2006 was 71% higher than in 2005.

But if the pattern of understating investment plans as farmers did in 2005 is repeated, the actual farm investment could be in the region of €1bn.