In Ireland the agriculture sector is a hugely valuable part of the economy, and is a key contributor to economic growth. Rich, fertile soil, a mild climate and all that rain makes Ireland perfect for farming, and taken advantage of that fact for generations. Agriculture has provided food and income for thousands of years and it’s a vital part of it. The rising demand for developed agricultural products versus their limited supply ultimately leading to increased imports. Some major product categories, includes soybeans and dairy foods, have been heavily dependent on imports for several years.
According to the analysis,’ Ireland Agriculture Market Trends, Statistics, Growth, and Forecasts’ Farming has a major role to play in Ireland’s economic prospects but today it’s facing real threats from climate change, rising energy costs, food insecurity and rural decline, as well as uncertainty surrounding Brexit and recovery from the Covid-19 pandemic. The Ireland federal government has been highly supportive of agriculture for so many years, and there is broad political consensus as to the need for land, labour and tax reform to aid the sector reach its potential. Owing to supportive policies, the agriculture sector’s performance has been improving steadily in recent years. Ireland remains in its first rank around the globe in regards of farming output, producing large quantities of rice, wheat, cotton, meat, poultry, eggs and fishery products.
Despite the rapid development of Ireland’s agriculture sector, problems increase in relation to a variety of aspects, including the shrinking arable land, the deteriorating ecological status of environment because of the heavy use of fertilisers and pesticides, and the issue of food security. The increasing demand for high-quality agricultural products versus their limited supply ultimately results in increased imports. Some major product categories, including soybeans and dairy foods, have been heavily dependent on imports for many. Other restrictors to sector’s expansion include the ageing workforce with a low level of education and the underdeveloped rural financial services system.
The government has adopted a number of multi-year policies, like pledge to hike up farmer incomes and become self-sufficient in pulses over an unspecified short-term period. However, reform needs to go much deeper, especially considering the fact that in the years to 2050, agriculture is anticipated to provide livelihoods for about half the rural population, rather ongoing urbanisation in the country. Most farmers are busy in low-scale subsistence farming and have a hard time getting credit and paying it back. So, poverty and crop holiday years, together with abandoning farming, or even committing suicide, is wide spread among farmers in the country.
Moreover, the Ireland government has for decades actively supported the agriculture sector through mechanisms like fertiliser subsidies, and relaxed lending conditions, amongst others, allowing farmers to have a fair estimation of their revenues and plan for the next agricultural season accordingly. Through a network of public institutions and various programmes and schemes, Ireland’s federal and regional authorities are trying to protect agricultural producers and boost production. So, it is expected that the market of Ireland Agriculture will boost up in approaching years.
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Ankur Gupta, Head Marketing & Communications