The positive side to Irish farming was emphasised at the recent Agricultural Science Association meeting in Cork.
Mr Philip Maher, the association's president, estimated the value of Irish farms at £40 billion. In addition, he said, farmers owned 95 per cent of total assets and their current assets exceeded their total liabilities threefold; their total liquid assets exceeded total liabilities fourfold.
He put farm income at £4 billion in 1997 with £1 billion of this coming from farming itself. He said a further £1 billion came from direct compensatory payments and £2 billion from off-farm income, including agricultural contracting.
The Republic, he said, produced only 5 per cent of total EU food and, with an EU population of 360 million, a small increase in market share would provide enormous opportunity for the State.
He said beef output had increased steadily over the past 20 years, and there were corresponding increases in the other product areas.
Figures produced at the conference showed that 40 years ago the average farmer could only produce enough food to feed seven people. Today the average farmer produces enough food for 50 people.