The Irish Co-operative Organisation Society (Icos) has warned that proposed cuts to the EU\u2019s post-2027 agricultural budget could hit farm incomes and \u2018jeopardise\u2019 the long-term viability of co-ops. <\/p>\n
The EU is currently floating a cut in Ireland\u2019s Common Agricultural Policy allocation, which offers funds and support to farmers across the country, from \u20ac10.7bn to \u20ac8.6bn.\u00a0<\/p>\n
Icos told the Oireachtas Joint Committee on Agriculture, Food and the Marine<\/a> that the proposed reductions could lead to \u201cincreased uncertainty\u201d for Irish agricultural co-ops.\u00a0 <\/p>\n It said: \u201cIreland\u2019s export led food industry thrives on the basis of a stable and predictable CAP-backed farming economy\u201d, adding that \u201cthe policy certainty that supports our export led food sector and farmer-owned dairy and mart co-ops is now at risk\u201d.<\/p>\n According to Icos, this could have much wider ramifications for Ireland\u2019s rural economy. It says the CAP is a \u201crural economic stabiliser and job creation foundation for thousands of Irish people\u201d, and that any reduction in funding would discourage young people from entering the farming sector by failing to remove systemic barriers. <\/p>\n