Dairy farmers in Donegal have suffered a large drop in milk revenue this year.
The ICMSA has warned that a €2 billion loss for dairy farmers in turn has reduced spending in rural communities and will subsequently have a very serious impact not only on the dairy farmers themselves but on the wider rural economy in 2023 and well into 2024.
In Donegal, milk revenue to date this year is just over €46m, down 36% on last year’s total of €73m.
A detailed analysis carried out by ICMSA of the 26 counties to establish the reduction in revenues earned by dairy farmers over the last two years has revealed dramatic drops in milk values with almost €2 billion less expected to be paid to dairy farmers in 2023 versus 2022.
Pat McCormack, President of ICMSA, says that is an astounding amount to lose from the rural economy.