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Agri Pulse

Agri Pulse

August 2017

The Bank of Ireland Agri Pulse for August 2017 found farmers in an upbeat mood. Sentiment was positive on a number of fronts, and was also up on April when the survey was last carried out. An improvement in farm profitability over the past year has contributed to this, and should also support investment.

Brexit, on the other hand, remains a headwind for farming businesses. Pricing and uncertainty are key concerns, which the renewed weakness of the pound over the summer and the lack of progress in the latest round of withdrawal negotiations will do little to alleviate.

Agri Pulse

August 2017

Key Points

  • Sentiment positive in August
  • Broad based across sectors
  • Brexit a headwind

Agri Pulse

August 2017

“While Brexit is a cloud on the horizon, improving farm profitability over the past year has helped brighten the mood.”

Dr Loretta O’Sullivan
Group Chief Economist
Bank of Ireland

Agri Pulse

August 2017

Agri Pulse August 2017

Agri Pulse

August 2017

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Agri Pulse

August 2017

Farm Output

Past 12 Months

Shape Created with Sketch. 37%
48%
15%

Balance +22%

(+9 on previous reading)

Agri Pulse

August 2017

Farm Output

Next 12 Months

Shape Created with Sketch. 39%
52%
9%

Balance +30%

(+9 on previous reading)

 

Agri Pulse

August 2017

Input Costs (Excluding Labour)

Past 12 Months

Shape Created with Sketch. 46%
38%
Shape Created with Sketch. 16%

Balance +31%

(-5 on previous reading)

Agri Pulse

August 2017

Market Prices

Next 12 Months

Shape Created with Sketch. 27%
55%
19%

Balance +8%

(+14 on previous reading)

Agri Pulse

August 2017

Investment Plans

Next 12 Months

Shape Created with Sketch. 33%
58%
9%

Agri Pulse

August 2017

Business Ambitions Next 1 to 3 Years

  • Plan on growing 55%
  • Prefer to stay same size 32%
  • Intend to scale down 14%

Agri Pulse

August 2017

Brexit Impact Next 12 Months

  • Significant negative 21%
  • Some negative 47%
  • None 25%
  • Some positive 7%
  • Significant positive 0%