Farmers urged to have their say in future

THE farming community from across the North Cork region have once again been invited to have their say on the future of the sector and the challenges it faces over the coming years.

IFAC, the farming, food and agribusiness firm, is encouraging people to take part in its second online Irish Farm Report survey, the findings of which were used to compile a thought-provoking report into the current state of the industry.

The survey, which combined the replies of more than 2,000 farmers with a detailed analysis of 21,700 sets of farm accounts, addressed key issues facing the sector from sectoral and environmental challenges, to pensions, labour management and succession.

The results made for stark reading, finding the future of Irish farming was buy no means certain, with low profitability leaving many farmers seriously questioning the long-term viability of their holdings.

Key findings of the report included that between 2017 and 2018 average dairy farm profits were down by 25% (from €1,077 to €804 per hectare), the average tillage profit per hectare was €252 and the average beef farm loss per hectare (excluding EU subsidies) was €116, with 61% of beef farmers not making a profit before EU subsidies and 38% of them unsure if they will still be farming in five years times.

The survey found that pig farmers had incurred losses over the three of the last four years and that forestry planting had declined by 30% over the past three years.

It found that almost half of Irish farmers still do not know how Brexit will affect them, 68% expressed serious concerns about environmental legislation and 46% of farmers over 65 have no life cover.

Perhaps one of the most concerning findings of the survey was that a staggering 86% of all farmers do not have a clear succession plan in place for when they retire.

Of the Cork farmers surveyed for the report some 43% admitted they did not have a succession plan in place, with 31% saying their business was not viable enough to encourage the next generation to take it on.

Commenting on the report IFAC’s head of farm support, Phillip O’Connor, said the latter finding was “alarming” given the rising age profile of farmers, with 56% over the age of 65.

“It is important to realise that regardless of viability, a farm is a valuable asset and that failure to plan for succession can have substantial tax consequences for farmers and their successors,” said Mr O’Connor.

“Similarly, many farmers do not have a pension plan or life assurance, leaving them with no option but to continue to work on past the age of 65 in order to maintain a household income,” he added.

Further focussing on Cork, the report found that 80% of those surveyed said they have an ‘off-farm’ source of income coming into the household, 64% depend exclusively on family members to help on their farms and that 28% of farm households in Cork have no pension plan for the farmer or their spouse in place.

Stuart Crowley, partner at the IFAC Mallow branch, The Irish Farm Report was a great way to obtain and share invaluable insights about farming in Ireland today.

“Its findings inform our business strategy and the products and services we offer our clients,” said Mr Crowley.

“Last year’s report uncovered many challenges facing the sector and we are repeating the survey to see if this picture has changed and to ensure we can continue to support and meet the evolving needs of our farming clients.”

To take the survey visit www. ifac.ie.