Oil price hikes drive up inputs

Farmers are to be hit by a raft of input price hikes as a result of rocketing global oil prices.

Agricultural contractors have announced that they intend to add a €20/ac fuel surcharge to silage bills this season, while silage wrap prices have increased by €3-5/roll on last year.

Diesel prices have increased by 55pc since April 2009 and an additional carbon tax of 1.5c/l plus VAT will be applied from May 1.

Ploughing and sowing charges have already increased by €3/ac.

Meanwhile, raw material costs for silage wrap, net wrap and pit covers have risen by up to €8/roll since last year.

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