Farmers to invest €1.12bn next year

FARMERS are planning to invest €1.12 billion on their farms in 2008, according to a survey carried out by the Teagasc Rural Economy Research Centre.

Teagasc economist Liam Connolly told an agri-economic conference in Tullamore yesterday said the survey carried out this autumn showed that over 32,000 farmers plan to invest an average of €34,500 on their farms next year.

Farm buildings account for over 80% of this planned farm investment for 2008.