Farm income to rise by little more than 10% over the next decade

AGRICULTURE income in Ireland and the other older EU member states will rise by little more than 10% over the next decade, while new member states increase at around 40%, bringing them closer to EU average incomes, according to a report prepared by the European Commission.

Figures for meat, milk and dairy products are mixed but hold some positive news for Irish producers, especially for poultry, pig, whole milk powder and cheese.

The report, which comes at a time when commodity prices are increasing in global markets and the EU is preparing for its major review of farming subsidies, is not a forecast as such but more a help to understand medium-term market developments.