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10 Apr, 2018

Fodder crisis costing farmers up to €2,500 per week

Ifac working with under pressure farm families to put emergency financial plans in place

The accountancy and financial advisory firm ifac today warned that the current fodder crisis is costing an average dairy farmer with 100 cows up to an extra €2,500 per week. The ifac national team is working closely with local farm families who are under pressure to put working capital solutions in place for the year ahead.

Speaking today John Donoghue, CEO of the ifac, said; “We have been dealing with clients from all over the county in the past number of weeks and are seeing first-hand the hardship that the fodder crisis is causing farmers nationwide. The ifac teams across the country are working with farm families affected by this crisis and we conservatively estimate that it’s costing the average 100 cow dairy farmer up to €2,500 per week in extra cost. Between the cost of extra feed and a big drop in milk yields and quality caused by the need to keep stock indoors for almost 8 weeks longer than planned, this has been a very tough and long winter for farmers. We are working with local farmers to help them put cash flow solutions in place and to reassess their financial position for the year ahead including advice on how to engage early with their banks if necessary.”

Ifac offers expert advice in accounting and business solutions and their people have deep sectoral knowledge of farming, agri-business, food, and the renewable energy sectors.