Mr. Pat Sheahan:

Regarding the Senator's point about the contribution agriculture makes, out of every euro generated, 90 cent is recirculated back into the economy. In terms of the impact, milk quotas were removed in 2015. Farming is at a crossroads. Farmers do not have a clear pathway going forward. They have never been more confused now than any time in the past 40 years. While there was a restriction on growth when milk quotas were in place, at least farmers knew where they stood. When milk quotas were abolished, it was a case of drive on and, to the Chairman's point, there was a great opportunity with regard to the growing demand for food in the world market.

Farmers have stepped up to the plate in putting additional capacity in place to be able to meet the growth figures. We can talk about weather over the past 12 to 18 months but I deal with farmers daily and meet our board monthly, and farmers are totally confused. They do not know whether the derogation will remain in future or if it will be dropped. The average cow herd is 96 cows. If ten or 12 cows are taken out, the farming enterprise is not viable.