Waterford farmers urged to 'act now' as fuel costs surge after oil shock

Waterford farmers are being urged to "act now" amid surging fuel and input costs following a global oil shock.

Ifac is advising farmers across the county to take immediate steps to manage rising costs, as oil prices have risen sharply in recent weeks, with Brent crude surpassing $100 per barrel after disruption to global supply routes.

This has already had a significant impact in Ireland, with sharp increases in the cost of green diesel, road diesel and home heating oil, alongside growing pressure on fertiliser prices.

While the Government has announced a €235 million emergency fuel package, including temporary reductions in excise, farmers are being warned that it will not offset the full extent of the increases.

Eoghan Drea of ifac's Dungarvan office said: "Farmers are once again dealing with a sudden and significant cost shock, driven by factors entirely outside their control.

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"While the Government's measures will provide some short-term relief, they will not offset the full extent of the increases we are seeing on the ground.

"What is critical now is that farmers take a proactive approach and understand their exposure, manage consumption where possible, and plan ahead for further volatility."

Farmers are being advised to review fuel usage, reduce consumption where possible and monitor supplier pricing closely, while also keeping a close eye on fertiliser costs.

Mr Drea added: "The key message for farmers is to stay calm and act early. Irish farmers have managed through energy shocks before, and the same practical, measured approach will be needed again."