FDBusiness.com

Increase in Irish Farm Income in 2014

 Breaking News
  • PepsiCo Targets African Growth in $1.7 Billion Deal PepsiCo has agreed to acquire all the outstanding shares of Pioneer Foods Group of South Africa for approximately US$1.7 billion. Pioneer Foods has a robust, locally relevant product portfolio that complements PepsiCo’s current line-up, with strong positions in cereals, juices, and other African nutritional food staples, including well-known, scaled brands like Weet-Bix, Liqui-Fruit, Ceres, Sasko, [...]...
  • WHO/Europe Studies Find Baby Foods are High in Sugar and Inappropriately Marketed For Babies Two new studies from WHO/Europe show that a high proportion of baby foods are incorrectly marketed as suitable for infants under the age of 6 months, and that many of those foods contain inappropriately high levels of sugar. WHO’s long-standing recommendation states that children should be breastfed, exclusively, for the first 6 months. Its 2016 [...]...
  • AB World Foods Selects e.fundamentals to Help Drive Online Sales AB World Foods, the ethnic foods division of Associated British Foods, has selected ecommerce analytics provider e.fundamentals to help drive sales of its products through retailers’ websites. AB World Foods, whose brands include Patak’s, Blue Dragon, Levi Roots and Tabasco, has become a client of e.fundamentals’ retail service, which continuously reports how brands are performing [...]...
  • AxFlow Holding Acquires Induchem Group in Ireland AxFlow Holding, the international fluid handling group that is active in all European markets, South Africa, Australia, and New Zealand, has acquired the Irish Induchem Group, the specialist provider of fluid handling solutions, which predominately focuses on valves, pipe solutions, mixers and pneumatics. Headquartered in Cork, the Induchem Group has four sites, located in Ireland and [...]...
  • AB InBev to Sell Australian Business For US$11.3 Billion to Asahi Group Anheuser-Busch InBev has agreed to divest Carlton & United Breweries (CUB), its Australian subsidiary, to Asahi Group Holdings for Au$16.0 billion, (US$11.3 billion) in enterprise value. The transaction represents an implied multiple of 14.9x 2018 normalised EBITDA. As part of this transaction, AB InBev will grant Asahi Group Holdings rights to commercialise the portfolio of AB [...]...

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 17, 2019Future Food-Tech
AEC v1.0.4

Jobs: Logistics

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements