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Agri Pulse

Agri Pulse

April 2018

The Bank of Ireland Agri Pulse found farmers in a relatively sombre frame of mind in April 2018.

Compared with last August – when the previous survey was carried out – respondents were less positive about production, costs, farm profitability and the outlook for market prices.

Adverse weather conditions, the fodder crisis and the lack of progress in moving the Brexit talks on have all taken a toll on farming sentiment, and also look to have tempered growth ambitions somewhat.

Agri Pulse

April 2018

Key Points

  • Sentiment down in April
  • Weather impacting production
  • Higher input costs

Agri Pulse

April 2018

The farming mood was subdued in April, with the poor weather, the fodder crisis and the stuttering Brexit talks all taking a toll on sentiment.”

Dr Loretta O’Sullivan
Group Chief Economist
Bank of Ireland

Agri Pulse

April 2018

Farm Profitability

Past 12 Months

Shape Created with Sketch. 33%
42%
25%

Balance +8%

(-18 on previous reading)

Agri Pulse

April 2018

Farm Output

Past 12 Months

Shape Created with Sketch. 33%
48%
18%

Balance +15%

(-7 on previous reading)

Agri Pulse

April 2018

Farm Output

Next 12 Months

Shape Created with Sketch. 20%
56%
24%

Balance -4%

(-34 on previous reading)

 

Agri Pulse

April 2018

Input Costs (Excluding Labour)

Past 12 Months

Shape Created with Sketch. 67%
27%
Shape Created with Sketch. 6%

Balance +60%

(+29 on previous reading)

Agri Pulse

April 2018

Market Prices

Next 12 Months

Shape Created with Sketch. 21%
49%
30%

Balance -10%

(-18 on previous reading)

Agri Pulse

April 2018

Investment Plans

Next 12 Months

Shape Created with Sketch. 25%
63%
12%

Agri Pulse

April 2018

Business Ambitions Next 1 to 3 Years

  • Plan on growing 38%
  • Prefer to stay same size 37%
  • Intend to scale down 25%

Agri Pulse

April 2018

Brexit Impact Next 12 Months

  • Significant negative 22%
  • Some negative 49%
  • None 23%
  • Positive 5%