Outlook 2022 - Economic Outlook for Irish Agriculture7 December 2021 7 December 2021
Venue Online via Zoom
The agriculture sector has successfully navigated its way through COVID-19. However, the recovery in global economic demand in 2021 has led to global supply chain pressures in the wider economy. There has been a surge in commodity prices, particularly for energy and energy intensive products. Knock on inflationary pressures are now being felt throughout the economy.
In spite of rising input prices, incomes have increased on many farms in 2021, owing to higher output prices and increased output volumes in some sectors. Nevertheless, the escalation in input prices began to put increasing pressure on margins as the year progressed.
The steepest increases in key input prices occurred quite late in 2021. As a result, producers’ production costs for 2021 do not fully reflect this input price inflation. However, these high input prices will now feature prominently in the Outlook for 2022.
Meanwhile, developments with respect to sustainability and environmental policy are becoming increasingly important for the agriculture sector and its future prospects.
The panellists and topics discussed will include:
- Welcome & Opening Remarks
Frank O’Mara, Teagasc Director
- Short-term Macro Outlook
- Agri Inputs & Cereals
- Environmental Sustainability
- Farm Incomes
- Developments in Irish Agri-Food Trade
- Questions and Discussion