Ornua, the country's largest dairy exporter, said it would face an additional € 23 million (£ 19.7 million) in export costs to the UK market under Brexit sales when tough tariffs were introduced.

According to Ornua estimates, tariff reductions across the dairy sector will amount to 55 million euros (47 million pounds). Regarding the impact of Brexit, Ornua will face an increase in the cost base of 6-8% in the case of non-tariff Brexit. Ornua Ingredient Managing Director for Ingredient Trading Joe Collins said global demand will increase by 1–1.5% in 2019. But dairy prices will remain extremely volatile.

John Jordan, executive director of Kerrygold, an Irish oil producer, warned that competitiveness in the UK market with expected “significant” consumer inflation would be a problem.

Although British retailers do not want price inflation, this was “inevitable” in the Brexit scenario, due to the fact that the company imports too many of its products.

The harsh spring weather, followed by arid conditions at the end of 2018, coupled with Brexit planning, led the group to have additional reserves at the end of the year, resulting in a debt of 110.1 million euros (94 million pounds).