A message from Rodney Brown, Head of Agribusiness at Danske Bank:
As we look ahead to the 2026 Royal Ulster Winter Fair, there is much for the agricultural sector to reflect on. The outlook for milk prices appears more stable than it did at this point last year, offering some reassurance to dairy farmers. However, this has still been a year fraught with concern, with geopolitical unrest, rising input costs and continued uncertainty placing pressure on margins and business confidence across the sector.
Against that backdrop, the resilience of farm businesses continues to stand out. Farmers have repeatedly shown their ability to respond to changing markets, adopt new technology and improve efficiency. That capacity to innovate and adapt will remain essential as the industry balances food production, environmental responsibility and the need to maintain viable family farms.
There was some welcome relief when the Government revised the Agricultural Property Relief and Business Property Relief reforms announced at Budget 2024, having listened to concerns raised by the farming community and wider business sector. The changes were a positive step, but an important question remains: have they gone far enough? With the overall value of many farm business assets increasing through land, buildings, livestock and machinery, many farming families remain concerned about succession and the potential inheritance tax exposure facing the next generation.
The Nitrates Action Programme is another major issue for 2026 and has the potential to significantly reshape Northern Ireland’s dairy industry. Improving water quality is a shared priority, but the route to achieving it must be practical, evidence-led and economically sustainable. There is a clear need for government and industry to work together on solutions that address the causes of poor water quality without relying primarily on a reduction in the national dairy herd. Investment in innovation, infrastructure, nutrient management and appropriate support will be critical if environmental progress is to be achieved alongside a productive and competitive sector.
This year also marks the 40th Royal Ulster Winter Fair and 40 years of Danske Bank’s support for the event. Over four decades, the Winter Fair has grown into a key date in the agricultural calendar—a place where farmers, businesses and industry representatives come together to exchange ideas, showcase excellence and look to the future. We are immensely proud to have supported the event throughout that journey.
Our involvement reflects a much longer commitment to agriculture. Danske Bank has supported farming customers for more than 200 years, through periods of growth, uncertainty and significant change. That long-term perspective matters. The sector has continually demonstrated that it can evolve, and we remain committed to working alongside farmers as they invest in their businesses, manage risk and plan confidently for the next generation.
The challenges facing agriculture are real, but so too are the opportunities. By combining the experience and resilience of our farming community with innovation, collaboration and sensible policy, Northern Ireland can continue to build a sustainable and successful agri-food industry. We look forward to welcoming customers and friends to the 40th Winter Fair and to continuing our support for the sector in the years ahead.
Rodney Brown
Head of Agribusiness
Danske Bank
