Teagasc expects large fall in cereal profit margins

Mid-year report reveals tillage income setback

Tillage farm difficulties may depress incomes  to a level   only matched in the past decade by the low point in 2014.

Teagasc has warned that a large drop in cereal profit margins and incomes is expected in 2020, leaving the average tillage farmer struggling to make an income of €30,000.

Tillage farmer incomes averaged over €40,000 in 2018 and about €33,000 last year, but could slump to a level this year only matched in the past decade by the low point in 2014.