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