Ifac 2020 Food and Agribusiness Report to be published next week

Ifac is preparing to release its 2020 Food and Agribusiness Report for next Thursday (September 10), the agri services firm has confirmed.

Ifac’s third annual sentiment survey of Irish food and agri-business small and medium-sized enterprises (SMEs) was conducted by Amárach Research during June and July 2020.

According to the company, the findings will cover Covid-19, Brexit, digitalisation, online sales, automation, sustainable packaging and research and development, among other topics.

Notable aspects of the findings will include:
  • Use of state supports, including the Temporary Wage Subsidy Scheme;
  • Shift to online trading by food businesses in particular;
  • Preparedness for Brexit;
  • Employment intentions for the coming 12 months.

“Packed with helpful tips and advice, the report itself is a useful tool for SMEs to plan the way forward for their businesses,” the firm says.

Values of prime grassland decrease marginally

Prime grassland values decreased by a marginal 0.1% in the second quarter of this year, with prices easing a very minor 0.3% in the six-month period, according to the Irish Agricultural Land Market Review by Sherry Fitzgerald.

While noting a much smaller change in values compared to prime arable in 2020, in the 12-month period to the end of June, the value of prime grassland decreased at a slightly greater rate of 4.3%.

On a regional basis, the largest price decreases were in the border region, south-west and mid-east.

However, overall, these decreases were marginal, with prices falling 0.9%, 0.8% and 0.4% in those regions, respectively.

“In contrast to the rest of the country, the south-east saw prime grassland values increase by 0.6% in the first six months of 2020,” the report stated.

At the end of quarter two, excluding Dublin, the weighted national average price of prime grassland was approximately €9,900/ac; a fall of less than €50 since the start of the year.