The Irish Farmers’ Association (IFA) recorded an operating loss of €895,213 in the financial year ending 31 March 2024. The overall loss for the year end was €429,601.

The farm organisation had income of €16.14m for the year and expenditure of €17.04m.

There was an increase in the value of its investments during the year, which was €450,273, after deferred tax.

Levy income

The largest source of income was membership contributions, which stood at €6,349,129.

Lower commodity prices paid to farmers dented levy income from the European Involvement Fund (EIF) to the IFA. It fell €895,403 to €3.08m.

“The IFA is an organisation for farmers, run by farmers.

“We need to ensure it remains strong and that we can operate without fear or favour,” the organisation said.

On Tuesday, IFA president Francie Gorman informed members of the national council that he will undergo a medical procedure at the end of January. His medical team has advised him that he will need a period of recuperation after this.

Based on tests carried out, they believe further intervention will not be required. It will mean his schedule will be curtailed.

During that time, IFA deputy president Alice Doyle will deputise as required.