Situation and Outlook for Irish Agriculture (July 2021)
Trevor Donnellan, Kevin Hanrahan, Anne Kinsella, Jason Loughrey, John Lennon, Brian Moran, Fiona Thorne and Emma Dillon, Agricultural Economics & Farm Surveys Department, Teagasc, Athenry, Co Galway, Ireland.
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In December of 2020 Teagasc published its annual Situation and Outlook for 2021. This was revised in February 2021 to reflect the outcome of the Brexit negotiations. In July of 2021 Teagasc has published this mid-year update on its outlook for 2021 to reflect ongoing market developments.
The mid-year outlook begins with a summary of current economic conditions, looking at the international macroeconomic picture and recent exchange rate developments. This is followed by a review of weather conditions and input markets. The update then provides a summary of the developments that have taken place in commodity markets during the first half (H1) of 2021. Finally, there is an assessment of the performance of the main farm systems in H1 2021.