Young farmers urged to be cautious about taking out loans

Young people starting out on a career in farming have been urged to adopt a cautious approach when seeking to borrow money from banks and lending institutions.

Minister of State, Tom Hayes, who issued the advice, was speaking in Bantry, Co Cork, at the presentation of the FBD Young Farmer of the Year awards.

The awards, run by Macra na Feirme in association with the Irish Farmers Association, are an annual highlight of the farming calendar.