Balance -23%
(+15 on previous reading)
The Bank of Ireland Agri Pulse for April 2020 paints a subdued picture. The COVID-19 pandemic has imparted a huge shock to the economy and even though farming has been classed as an essential business, reduced demand from overseas customers and the closure of the food service industry at home is taking a toll on the sector.
Production sentiment was at a low ebb in April and compared with August 2019 – when the survey was last carried out – farmers were more pessimistic about the outlook for market prices. Investment plans and growth ambitions held steady though as a no deal Brexit was avoided at the start of this year and the transition period took effect.