Grain price fall will lead tillage farmers to slash cereal acreage
Tillage farmers are expected to cut their 2014 cereal acreage by as much as 15,000ha or 37,000ac as a result of a €50-60/t fall in 2013 grain prices.
Cereal growers are set to lose €15/t on their crops at current prices of €150/t and are expected to cut back their sowings by at least 5pc for next year.
Glanbia revealed its final grain price for green grain on Friday, announcing a feed barley price of €145/t plus VAT at 4.8pc or €151.96/t.
Malting barley varieties Saffron and Cassia bought on contract will be paid at €160/t plus VAT or €167.68/t, while feed wheat is to be paid at €155/t plus VAT or €162.44/t.
Oats for the equine market bought on contract will be paid at €155/t plus VAT or €162.44/t.
With world grain markets depressed, the low final grain price is not a surprise to growers, but is disappointing nonetheless.
IFA grain chairman Noel Delany maintained the 2013 harvest price had growers questioning the viability of Irish grain production.