According to the latest Central Statistics Office (CSO) agricultural price indices, compound feed and straights have risen by on average 21% and 18% respectively. The statistics also show that while the index of prices farmers were paid for pigmeat also increased, the rise was slight at just16%.
Michael Phelan, president, Irish Grain and Feed Association (IGFA), said that the situation was continued “precarious” for farmers and pointed to the fact thatoutput prices for milk, pork, poultry and cattle produce had “either fallen or failed to keep pace”.
“The erosion of profitability of the pig sector continues as the market punishes those in a weaker bargaining position,” Mr Phelan fumed. “As an Association we continue to question why the Irish pig processing sector is so slow to adopt modern forward pricing mechanisms. The demand for feed this year has been unprecedented, and farmers and compounders are now waiting desperately for some sort of grass growth to help ease the pressure on feed demand.”