A message from the Royal Ulster Winter Fair's sole sponsor, Danske Bank:
As we gear up for the Royal Ulster Winter Fair, it is a fitting time to reflect on the past year in the agricultural sector—a year that has presented both challenges and opportunities for growth. With 2026 on the horizon, while recent declines in milk prices have created significant concerns, the positive trends observed in the first half of the year have hopefully provided farmers with the means to navigate their way through the current slump. As we come together at this important event, our focus is on fostering resilience and collaboration within the farming community to ensure a sustainable future for all.
This year, the dairy sector has experienced a mix of highs and lows. Milk prices performed strongly during the first half of the year, bringing welcome relief to farmers, but have shown rapid declines over the past two to three months, primarily due to a slump in global dairy trade, which has resulted in a three-month decline. This downturn has created fresh concerns for primary producers. Despite this, the sector has benefitted from one of the best summers in recent memory, with favourable weather conditions providing excellent opportunities for grazing, silage production, and other aspects of farm management. These positives have helped to alleviate some of the pressures stemming from rising costs and fluctuating margins.
However, it is also important to recognise the challenges that persist. The proposed changes under the Nitrates Action Programme (NAP) have raised serious concerns among farmers, particularly regarding how they will impact day-to-day operations and the viability of some businesses. Furthermore, changes to inheritance tax (IHT) rules have created significant uncertainty around the costs associated with generational change, adding further pressure to farm succession planning.
During these evolving times in agriculture, it is crucial to address these challenges while making the most of the opportunities at hand. Northern Ireland’s dairy industry remains uniquely positioned to thrive, thanks to our mild climate, excellent market access, and the resilience and innovation of our farmers. As we navigate the road ahead, agility and adaptation will be key to maintaining a sustainable and competitive sector.
The Winter Fair provides a valuable platform to connect with stakeholders and discuss how best to manage these challenges. It also highlights the ongoing advancements in dairy genetics and the innovative solutions designed to improve efficiency, productivity, and environmental sustainability.
At Danske Bank, we are proud to continue our long-standing partnership with the farming community, which spans over 200 years. In today’s dynamic environment, we remain committed to supporting you as you navigate the complexities of new agricultural policies, sustainability goals, and the broader challenges facing the industry. As sponsors of the Royal Ulster Winter Fair, the AgriBusiness team at Danske Bank is dedicated to building strong, enduring relationships with our farming customers and working together to secure a resilient and sustainable future for the sector.
We look forward to seeing you at this year’s Winter Fair and wish you continued success for the year ahead.
Rodney Brown
Head of Agribusiness, Danske Bank
