The Ulster Farmers' Union says current exchange rates between the Euro and Sterling should be a boost to local farm incomes.

The Euro opened trading this week at a sterling value of over 76 ? pence; an all time high. The UFU says the current exchange rates should boost the competitiveness of Northern Ireland food exports and also make local produce more competitive against food imports.

UFU President Kenneth Sharkey said; "For many years the strength of sterling compared to the Euro worked against the farming industry and we were often reminded that our farm gate prices were depressed because the Euro was so weak. Now the situation is completely different and the Euro has strengthened to an all time high against Sterling. This is putting our industry in a much more competitive position".

The UFU urged farmers to market their produce strongly, given the current currency conditions. Kenneth Sharkey said; "Farmers should take confidence from these currency developments and should market their produce strongly.

This is important information, particularly for example if you consider the pig sector, where producers desperately need an upturn in prices. With sterling continuing to weaken against the Euro, better prices for producers should be possible".