This week will go down as a very historic time for the farming and dairy industry in Ireland. We set out to celebrate and mark the occasion with this special publication. Our special magazine looks back over the important changes or lack of change for the last 30 years, but more importantly looks forward to the challenges and opportunities for a new era of farming in Ireland. Everyone is well aware of the potential growth in milk supply in Ireland and Europe and the consequences that this increased supply can bring.

First and foremost, growth in milk supply will do little for the long-term good of the Irish agricultural industry unless profit at farm level is delivered. But the potential benefits of quota removal extend across all agri sectors, not just dairy. There will be opportunities and benefits for Irish beef, tillage and drystock farmers, not to mention the spin-off to all the service industries working with the dairy industry. We simply must have more cross-sector collaboration to exploit the benefits of each sector and bring the feed supply and nutrient balance more in line.

Some commentators, including New Zealand farmer and Fonterra chairman John Wilson in this publication, predict that the abolition of quotas will trigger a restructuring of the dairy sector, not just in Ireland but in Europe. Already there are similarities between what has started in Ireland and what has happened in Fonterra. The New Zealand company invested heavily in processing equipment to manage the extra milk supply. Ireland has already started on this track, well before milk quotas have been removed, with upwards of €500m invested or in the process of being invested over the next number of years.

There are, of course, many farmers who see the removal of quotas as a threat rather than an opportunity. The investment and search for new markets is a huge challenge, especially for those countries who have not been dependent on exports. The vulnerability of markets and their exposure to geopolitical concerns is an issue but the reality is the increasing added value and demand for dairy products is coming from Asia, Africa and Russia – so this is part and parcel of the global exporting game that needs to be managed.

Thanks to all our own staff and all our external contributors for providing content for this special publication. We can all look forward to meeting the challenges and opportunities of this new and exciting time for Irish and EU agriculture.

This article features in an 80-page End of Milk Quotas magazine which is available to all digital subscribers of farmersjournal.ie on 1 April and to all print customers on Thursday 2 April