As we approach April, we are at a critical time for the industry in relation to the upcoming season, says the Irish Farmers Association (IFA) in its weekly market report. The organisation says there are reports that some growers are planning to plant increased acreage this year.
“If this is the case, the supply and demand plateau will be disrupted,” the IFA says in its report. Last year there was a small increase in the planted acreage but this was negated by up to 20% reduction in yield. IFA urge growers to grow for their market to avoid an oversupply which will ultimately put increased pressure on the farm gate price.
“Markets are in a very precarious situation at present and it is more likely that it will be another unprecedented year in relation to markets,” the IFA says.
The organisation reports that in Europe the April and June futures positions have taken a hit this week due to the threat of further lockdown in mainland Europe and lack of demand for export (mainly for processing within Europe). In the fresh sector, washing quality stocks are holding despite downward pressure and secondary quality lines are being offered for cattle feed.
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Photo: Courtesy Irish Central