On course for 1% per year farm income cut

EU farm policies, as they stand, are set to leave farmers 1% per year worse off over the coming decade.

This was one of the conclusions of Teagasc economists Trevor Donnellan and Kevin Hanrahan at the Teagasc Outlook 2003 conference in Dublin. No change in current policies would result in declining prices for the major dairy products.

This would lead to a drop of around 15% in milk prices compared with prices received over the last three years.