IFA to Hold Regional Meetings on Farm Finance
IFA will hold regional meetings in the coming weeks to discuss farm finance and budgeting in the context of significant cashflow pressures on farms.
The first meeting will take place next Thurs, Aug 29th, in Cork Marts, Corrin, Fermoy, Co Cork.
IFA President Francie Gorman said farmers in all sectors have experienced difficult trading conditions in the past 12 months, with higher input prices and reduced output squeezing margins.
“The combined effect of higher costs and challenging weather for the last 12 months has had a massively negative impact on cashflow for farmers. Additional feed has had to be used throughout the year to compensate for poor grass growth and difficult grazing conditions,” he said.
IFA Farm Business chair Bill O’Keeffe said Teagasc and financial institutions have been invited to discuss how farmers should prepare their business for the months ahead.
“We will have a Teagasc specialist on managing winter fodder. The focus will be on the importance of early feed budgeting for winter 2024/2025 and knowing your farm demand and managing in advance of any potential deficit.”
AIB, Bank of Ireland, PTSB and the credit unions will each give a brief presentation on what’s available for farmers with cashflow difficulties, in particular those farmers who want to transfer merchant/co-op and contractor debt into structured bank credit.
A panel discussion, with Q&A, will be facilitated by Bill O’Keeffe. Regional meetings will also be held in the following locations:
- Sept 2nd (Newpark Hotel, Kilkenny)
- Sept 9th (Bloomfield House Hotel, Mullingar)
- Sept 11th (McWilliam Park Hotel, Claremorris)
