Teagasc expects on-farm investment to shrink back to €363m next year

INVESTMENT on farms is expected to shrink back to just €363 million in 2009, Teagasc predicted at its annual situation and outlook conference in Tullamore yesterday.

Irish farmers invested a record €1.9 billion in their holdings this year as they upgraded facilities to comply with strict new EU environmental regulations.

This year’s investment was three times the amount invested annually between 2000 and 2005 and was equal to 100% of total farm income in 2008.