Speaking to the Guild of Agricultural Journalists in Cork at a Dairygold event, the Minister said that "8 to 12" measures were currently being finalised.

In last December's budget, Minister for Finance Michael Noonan announced a comprehensive review of all taxation measures affecting agriculture.

"This is not about increasing tax take. This is a fundamental review to all measures. We will be a doing a number of strategic things that need a push," Minister Coveney said last night.

He highlighted land mobility, encouraging generational change and maintaining family farms as three key driving forces behind the reforms. "We will also be trying to move people away from the conacre system," the Minister said. Describing it as "a big tax package" that will involve "multiple changes", the Minister said that the changes will be aimed at "encouraging the right innovations".

However, the Minister was less upbeat on the chances of the introduction of an Australian type scheme where farmers could place some income on deposit and only incur income tax when it is drawn down.

The Minister said that he hopes to have a plan for Irish agriculture to 2025 in place by next summer. This will follow on from the current Food Harvest 2020 plan that is seeing the industry invest €0.5billion in processing capacity, he said.

Minister Coveney also said that farmers should not link the current downturn in dairy markets to the abolition of milk quotas, but rather an ongoing part of the market cycle. "There is little or no connection between the current price weakening and milk quota abolition," the Minister said.

He stated that "volatility is a price to be paid for regulation". He repeated his view that "Ireland is going to be the fastest growing dairy producer on the planet for the next 10 years".

At the same event, Dairygold chief executive Jim Woulfe said that he is personally looking forward to milk quota abolition, as are the majority of the co-op's 3,000 suppliers. "There is serious ambition among our members and we expect 60% growth in their milk output between 2011 and 2020," he said.

Thursday evening's Dairygold event was held ahead of Friday's official ceremonies at the co-op dairy plants in Mitchelstown and Mallow. An Taoiseach Enda Kenny is due in Mallow at 10am, with Minister Coveney and Minister for Enterprise Trade & Employment Richard Bruton also scheduled to attend.