FDBusiness.com

Increase in Irish Farm Income in 2014

 Breaking News
  • The Price is Right For 77% of Brits Earning £50,000+ Who Shop at Food Discounters Latest research from Mintel finds better off British shoppers are flocking to UK food discounters. Indeed, today, as many as 77% of British consumers with a household income of £50,000 or more visit food discounters, compared to 73% of those with a household income of £15,500 or less. And it appears that premium products are pulling [...]...
  • Mackays Invests £3.8 Million in Major Expansion Scotland’s largest producer of marmalade and jam, Mackays, is set to embark on a major multi-million pound investment that will see its business premises grow by 50%. Starting in January 2018, the £3.8 million expansion will allow the company to introduce new product lines into its existing factory as well as create a dedicated distribution [...]...
  • A Healthy Business Choice – Demineralized Whey Powder Demineralized whey powder is an economical and healthy ingredient which is used across many food and dairy products. Growing consumer demands for infant formula and sports nutrition products in particular mean this highly beneficial product is seeing intensified production levels. SPX FLOW offers customers expertise, experience and state-of-the-art technology for efficient and safe demineralized whey [...]...
  • Ferrero to Acquire US Confectionery Company Ferrero Group is acquiring Ferrara Candy Company, the third largest non-chocolate confectionery company in the US, from L Catterton, the biggest and most globally consumer-focused private equity firm in the world. The terms of the transaction were not disclosed. Ferrara is best known as the maker of iconic brands such as Trolli, a leader in [...]...
  • Shift to Sustainable Food System in Europe is Possible – But Faces Challenges Making Europe’s production, consumption and trade in food environmentally sustainable is possible, but it will require a major shift in public attitudes, policies and knowledge and seizing current opportunities for change, according to a newly published European Environment Agency (EEA) report. The EEA report ‘Food in a green light,’ analyses the challenges Europe faces in shifting [...]...

Increase in Irish Farm Income in 2014

Increase in Irish Farm Income in 2014
May 26
14:40 2015

A preliminary estimate of the Teagasc National Farm Survey results show that Irish family farm income increased by 6% in 2014, bringing the average income figure for the farming sector to €26,974.

Dr Thia Hennessy, Head of the Teagasc National Farm Survey, says: “The value of farm output decreased in 2014, but farmers benefitted from very good weather conditions as well as a recovery from the fodder crisis in the previous year and the total costs of production were down by 6%”. She also notes that “it was a particularly good year for dairy farmers with average income reaching the unprecedented high of €68,887. Although milk price declined slightly in 2014, production levels were up and costs of production were down significantly.”

“However, many farmers were penalised for over quota production in the last year of the milk quota and they will be paying for that through superlevy bills in 2015,” she adds.

“It was a mixed year for cattle farmers,” says Brian Moran of Teagasc’s National Farm Survey. “Cattle rearing farms, those involved in the production of young animals, saw their incomes increase by 8 percent, largely on the back of falling production costs. However, cattle fattening units suffered from lower animal slaughter prices in 2014. The average annual slaughter price was down 11 percent and income on these farms fell by 12% in 2014”, he said.

The €26,974 figure is the average income for the full population of approximately 80,000 farms which includes many part-time and small farm holdings. Income varies considerably by farm size and system with the average income on dairy farms almost €69,000 in 2014 compared to an average of just over €10,000 on Cattle Rearing farms. Less than 20 percent of Ireland’s farms earned an income of €50,000 or more, while 40% earned less than €10,000.

Strong lamb prices and production combined with reduced input expenditure increased the average income on sheep farms by 24 percent in 2014. However, it should be noted that incomes on sheep farms fell considerably in 2013 and the 24 percent increase in 2014 is still not sufficient to ensure a full recovery to the 2012 levels.

Good growing conditions led to increased cereal yields in 2014, however falling prices meant that average tillage farm incomes remained more or less unchanged at €28,468.

Just over half of all farm households have an off-farm income source and almost 30% of farmers work off the farm. The rate of off farm employment peaked in 2006 and was in decline up to 2013. The number of farm households with off-farm employment increased in 2013 and 2014.

Farming continues to remain highly reliant on direct payments. The average direct payment per farm was €18,859 comprising 70 percent of farm income in general and over 100 percent on cattle and sheep farms.

The full report is available athttp://www.teagasc.ie/publications/

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 21, 2017Food & Nutrition Conference & Expo 2017
  • October 22, 2017Serbotel
  • October 22, 2017Natexpo
  • November 5, 2017FLEIFOOD 2017
AEC v1.0.4

Jobs: Logistics

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements