The drop in IFA income by over €1 million is largely attributed to a significant decline in returns from the European Involvement Fund (EIF), a trend seen for years.
The EIF levy has had a steady decline over the past decade, illustrating the broader challenges the agricultural sector faces, including plummeting milk prices in 2023.
Despite rising operational costs impacting the IFA, membership fees remained stable, indicating a solid level of support from farmers amidst economic challenges.
The IFA recognized that '2024 saw the cost of doing business continue to rise,' which impacted their overall financial performance alongside reduced commodity prices.
#ifa #european-involvement-fund #membership-fees #agricultural-financial-performance #commodity-prices
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