5% income rise for 2011 predicted

A 5% IRISH farm income increase, roughly double the rate of inflation, is predicted for 2011 by AIB.

However, within the overall picture, most pig farmers have incurred losses for the first six months. Pig farmers should see rising income for the second half of the year, on average, according to the bank. In a very good year for dairy farmers, the cloud on the horizon is the superlevy situation.

According to the bank, it is on course to be serious for a great many dairy farmers but disastrous for a minority, mainly those encouraged by 2009’s low milk production to expand above their quotas.