The agriculture and food development authority, Teagasc, has predicted a 50% drop in grain growers' incomes, following the rainy summer's adverse effect on this year's harvest.
With harvesting now almost complete throughout the country, yields are considerably down on recent years.
Yields of the two main crops, winter wheat and spring barley, are back by about 0.5 tonnes per acre at their lowest levels since 1998. This means that Ireland will lose its position of producing the highest yields in Europe.
Growers also incurred the additional cost of spraying to prevent crop disease due to the damp, cold conditions.
Jim O'Mahony of Teagasc said that, because of the drop in yield, price drops and additional costs, growers will experience a 50% cut in income this year.
Growers are said to be demoralised and agitated. Farmers have already been protesting against efforts to import grain, which could lead to a further lowering in prices.
Paddy Harrington of the IFA said the price cuts this year would amount to €120 per acre. He said that many farmers would have no income as a result.
Despite the bad financial outcome for farmers, the good weather during August made it easy for farmers to reap the grain and 85% of the crops have now been saved.
