The Ulster Farmers' Union has been hosting a sale on the Antrim Road in Belfast on Thursday to highlight the situation and how tough farmers are finding the conditions they have to work under.
Those who provide the public with a range of high quality goods are frustrated that retailers and food processors seem to be ignoring their plight - including such issues as rising feed and fuel costs and persistent bad weather.
Among the items available at the same are potatoes for just 23p per 2.5kg - which have a typical retail price of £1.69.
According to the UFU, 1kg of rindless back bacon is just £1.40 at farm gate price - but £7.15 by the time it hits the shops.
And milk which retails for 79p per litre is just 22p for the same amount at farm gate price.
Thursday's protest follows significant unrest elsewhere in the UK over falling milk prices and the UFU says such problems are affecting almost every sector of the agriculture industry in Northern Ireland.
This is the start of a process to try and highlight the issue - we need a food chain that's working.
UFU President Harry Sinclair
SDLP Agriculture spokesperson Joe Bryne said radical reform in the milk-pricing system is needed to alleviate the "desperation" faced by local dairy farmers due to farm gate milk prices being set so low.
"The liquid milk auction system administered by United Dairies here in Northern Ireland has consistently short-changed local dairy farmers in recent years," the West Tyrone MLA said.
"The reality is that milk processors and the large retailers are enjoying the profits, but dairy farmers aren't even covering their current costs of production.
"The time has come for the DARD Minister to intervene and change the system in the interests of the farmers and tackle the farm crisis in the dairy industry."
UFU President Harry Sinclair says that a great opportunity for agri-food exists, but insists that everyone in the chain has to make a profit.
"There are over 90,000 jobs within the food sector in Northern Ireland and farmers are the base of that," he added.
Agriculture Minister Michelle O'Neill said that, while competition is not a devolved matter, she would support the introduction of a Groceries Code Adjudicator in Westminster to regulate the market and hopes to see one by next year.
"In view of the importance of this issue, we have written to the Minister for Business Innovation and Skills - who has responsibility for this draft Bill - supporting the Bill and calling for the early introduction of an adjudicator with real power," she said.
"My aim remains to see a food industry where both farmers and other suppliers are getting a fair deal.
"I will continue to monitor the progress of the Bill and engage as necessary with the British Government as the Bill progresses."
I support fully the concept of fair pricing and last year welcomed the publication of the draft Groceries Code adjudicator Bill. I believe that this is a crucial issue for our producers and processors.
Agriculture Minister Michelle O'Neill
SDLP MP Margaret Ritchie urged the Agriculture Minister to compensate farmers who were facing delays in harvesting crops and higher feed costs due to ongoing bad weather conditions.
"Over the last number of months, farmers have had to face not only the ongoing financial problems as a consequence of the economic downturn, but the challenges presented by extremely bad weather characterised by prolonged pulses of heavy rainfall," she said.
"It necessitates the need for the recall of the Assembly's Agriculture Committee, and immediate action by the Minister to provide relief measures for farmers."
In 2008, the Executive funded a one-off hardship payment scheme of £500,000 for flooding hardship in agriculture.
DARD said they were very aware of the difficulties currently experienced by the farmers due to bad weather and said they provide practical advice to help mitigate risks associated.
They said anyone requiring further advice should contact their local CAFRE advisor.