Farm Ireland

Monday 22 January 2018

In brief: Bank links a €250 carrot to Teagasc report

Ulster Bank is offering farmers €250, lodged into their Ulster Bank business current account, if they fill out a Teagasc e-Profit Monitor report for 2010.

New and existing customers can avail of the offer. However, there are a few strings attached.

Applicants must use their Ulster Bank business current account as their main farm business current account for at least two years. Farmers must also mandate their single farm payment to the account and ensure all farm sales proceeds are lodged into the account. All interest rates are calculated on a case by case basis.

Food and drink exports surge

An 8pc increase in the value of food and drink exports in the first five months of 2010 and accelerated growth since demonstrates why the food sector is Ireland's leading indigenous manufacturing industry and generator of net export earnings, said Minister for Agriculture Brendan Smith.

"What is perhaps most impressive is the level of achievement across sectors and markets by companies large and small," Mr Smith said.

Exports of prepared consumer foods to Britain had recovered, he pointed out. And the strategy of targeting premium markets for quality-assured meat was also working.

Increase in farmers critical

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Macra na Feirme national president, Michael Gowing, said farmers could only achieve the targets set out in the Food Harvest 2020 report if the numbers of new entrants was increased significantly above current levels.

"At a minimum the proportion of farmers under 35 years should increase from its current level of 6.9pc by 1pc per annum to reach a more realistic level of 17pc by 2020," he said

Mr Gowing stated that Installation Aid for young farmers would be on top of Macra's agenda for 2011.

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