Average tillage farm income in 2025 to be below €45,000
But according to Teagasc economists today (Monday, July 28) tillage farmers' incomes will be below the national average farm income forecast for 2025 which is expected to hit €48,500.
Economists believe that good planting conditions earlier this year 'should contribute to higher production volume' on tillage farmers which should deliver a 12% increase on average income on tillage farms.
However they have also indicated that much of the increase in income on tillage farms will come from a 'subsidiary livestock enterprise', which have benefited from higher prices in 2025.
Average Irish tillage farm income (2010-2024) Source: Teagasc
'The forecasted income on tillage farms for 2025 is expected to be below the previous five-year average,' economists highlighted in their report on 'situation and outlook' for Irish agriculture this year.
Tillage outlook
Forecasts suggest that total costs on an average tillage farm this year will be about 2%
lower compared to 2024.
While average gross margins per hectare for winter barley and wheat are forecast to increase spring barley gross margins are expected to decrease, according to the latest Teagasc report.
Overall with lower cereal prices and an increase in production volume, Irish cereal market
based output value is forecast to increase 'only slightly in 2025'.
Economists have also highlighted that weather conditions in the current season were more 'favourable for cereal crop establishment and growth' compared to the previous season, with higher areas of winter crops planted.
'While dry weather earlier in the season may have impacted some regions and crops, particularly winter barley, overall, the outlook is positive for cereal tonnage compared to 2024,' they outlined.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
RTÉ News
2 hours ago
- RTÉ News
New AI rules come into force in EU
New rules came into force yesterday requiring makers of artificial intelligence (AI) models to ensure their systems are safe and transparent. The latest phase of the EU's AI Act also means the Government must put structures in place to police the companies providing AI tools. Europe's regulation of AI comes as the US vows to cut red tape for the sector. At the offices of digital agency All human in Dublin, developers are working on a new project for a client - an AI-driven energy price comparison tool. Advances in technology mean the AI chatbot being used in the project has an Irish accent and sounds human. The new AI rules mean it must be made clear to consumers if a realistic voice they are engaging with is in fact an AI chatbot. "With the sophistication of AI, things like artificial voices can be so nuanced that they can convince you it's human," said John Mitchell, CEO of All human. "As a consequence of the AI Act, organisations, brands and providers of services, particularly in a digital context, have to declare what is real and what is not," Mr Mitchell said. The EU AI Act came into force last year and is being implemented on a phased basis with its latest provisions taking effect yesterday. The Act bans artificial intelligence systems considered a clear threat to the safety, livelihoods and rights of people. 'Businesses need to start making their preparations now' There are also rules for AI systems in terms of transparency and safety. Maureen Daly is a Partner specialising in Intellectual Property and AI at law firm Pinsent Masons Ireland. "Businesses need to start making their preparations now," Ms Daly said. "Obviously it relates to the big players like Google and Meta, but also to start-ups and SMEs that have AI systems, they are going to have to comply as well." And there are big fines for companies found to be in breach of the AI rules. "The European Commission has said because they don't have the relevant powers they won't start fining people until 2 August 2026 but that doesn't mean you can just sit on your laurels until then because all of this is going to take time and resources," Ms Daly said. "The fines are quite large, 3% of annual turnover or €15 million if you don't comply," she added. The AI rules that came into force yesterday require EU Member States to prepare for the policing of the act. It means the Irish Government must designate competent authorities and legislate for penalties for infringements. Government has not done enough to prepare for rules - senior fellow Dr Kris Shrishak is a senior fellow with the Irish Council for Civil Liberties (ICCL). He believes the Government has not done enough to prepare for the AI new rules. "They should have started this process much, much earlier," Dr Shrishak said. "There needs to be an urgency from the Government not only to set up the required governance mechanism for the regulators, but also to provide the resources so that regulators can do their jobs." "Part of that job will be the setting up of sandboxes to help and guide Irish companies, so it's not just about stopping bad AI, it's also about promoting the good uses of AI." "I think the State needs to accelerate what it is doing," he added. The Department of Enterprise said Ireland has met all of its obligations under the act to date and will continue to do so. "A significant body of work is ongoing to support the designated authorities in preparing for implementation of the Act, including workshops, working groups, and facilitated dialogue with the Commission and counterparts in other Member States," a Department spokesperson said. "Resourcing is managed through the estimates process," they added. Trump vows to 'win the AI race' But while Ireland presses ahead with EU regulation, a very different stance is being taken in the US where President Donald Trump has vowed to cut red tape to ensure America "wins the AI race". But is there a danger that regulation will see Ireland, and the EU, fall behind when it comes to innovation? Caroline Dunlea is the Chairperson of Digital Business Ireland (DBI) and believes it is now on member states and the EU to allow the European AI space to grow and evolve. "Bridging the competitiveness gap between ourselves and the likes of the US and China in AI is essential, if we are to stay ahead of the curve in the digital sector and its emerging technologies," Ms Dunlea said. "DBI believes that a balanced attitude to enforcing the Act must be taken to avoid overregulation of the AI space," she added. All human CEO, John Mitchell agrees that a balanced approach is key. "I think there needs to be guardrails," Mr Mitchell said. "I think the EU has got the balance right with a combination of being progressive but also being protective." "In the long term, that is the way to go with AI because it is very unregulated today," he added.
Irish Independent
3 hours ago
- Irish Independent
Canadian state wholesaler wants Irish whiskey to replace US spirits in 25,000 outlets, agriculture minister says
Canadian state wholesaler wants Irish whiskey to replace US spirits in 25,000 outlets, agriculture minister says Martin Heydon exploring potential deal in massive boost to the sector Martin Heydon has spoken to the Liquor Control Board of Ontario. Photo: Frank McGrath Fearghal O'Connor Today at 06:30 Ireland's embattled whiskey sector could fill the gap left on Canadian liquor shelves following the removal of US drinks products in reaction to Donald Trump's tariffs against America's northern neighbour, a key government-owned alcohol distributor has told the Irish Government.
Irish Independent
3 hours ago
- Irish Independent
‘I'll start 10,000 homes in the next two to three years,' says developer Ciaran Fitzpatrick
The Irish housing market might be in a state of perpetual crisis but Ciaran Fitzpatrick — one of the country's most ambitious housing developers, has a blueprint for rapid expansion to build thousands of homes.
