As the world braces itself for the potential conflict between Russia and Ukraine, its thought that economic sanctions will further drive-up farming inputs. The recent price hikes in fertiliser and feedstuff costs has left many of the country’s farmers in a dire financial position as they struggle to maintain the running costs of their farms.
Independent TD for Galway East Seán Canney highlighted the current situation faced by farmers, saying that urgent support is needed on family farms in order to rescue them from a wipeout due to current hikes in costs. This comes as fertiliser prices went up by almost 25% within one month in December 2021 and increased by 86.9% compared to 2020 levels. Electricity prices (22%), fuel (39.5%) and feed (15.9%) also all increased in 2021.
Speaking in the Dáil Canney stated that ‘this crisis extends beyond the farmyard and will further impact negatively on the cost of living for all.’
In light of the current situation, the latest figures revealed by the Central Statistics Office (CSO) show increasing challenges this year due to rising input costs. According to Canney, this ‘will wipe out any marginal increases in output prices currently being received’. As talks are underway to alleviate concerns being raised, Canney adds that farmers have no power over the selling price and have been left with the option of reducing output and selling stock.
LSL News.