Welsh farm income figures ’cautiously’ welcomed
The rises are attributed to greater output and higher market prices as well as an increase in support payments to farmers, largely due to the effect of the exchange rate on the value of the Single Payment Scheme (SPS) payments.
Ed Bailey, NFU Cymru President said, "Reliance on currency fluctuations is a fickle basis for determining farm incomes and whether the positive picture of the last few years can be maintained through 2012 remains to be seen, especially given the apparent difficulties that some countries in the euro zone are currently experiencing."
Mr Bailey reiterated that the Single Farm Payment represents on average between 80 and 90% of farm income. This clearly highlights the importance of the Common Agricultural Policy to farming in Wales and the Union’s President has welcomed Alun Davies, the Deputy Minister for Agriculture’s commitment to ensure Wales gets the best possible deal out of CAP reform.
The Welsh Government has also forecast that individual farm incomes in Wales are forecast to rise by an average of 16% in 2011-12. All sectors of the agriculture industry are set to see a rise in income from dairy farm incomes estimated to rise by 12%; the incomes of lowland cattle and sheep farms expected to rise by 20% and an estimated increase for LFA cattle and sheep farms.
Mr Bailey added, "Today’s forecasts are in contrast to last November’s farm income figures which showed an average decrease of 12% in Welsh farm incomes. These forecasts are also in contrast to the performance of the wider economy. Today’s increases follow on from the improved confidence that we’ve seen in some farming sectors and build on other recent indicators that have underlined agriculture’s contribution to the wider economy. This is undoubtedly positive news for the industry."
No comments posted yet. Be the first to post a comment
Please enter your name
Please enter your comment
Your comment submitted successfully.Please wait for admin approval.
Some error on your process.Please try one more time.
Scotland’s Rural Affairs Secretary Richard Lochhead is calling on the Europ...
As the country settles down following the turmoil of the general election, ...
New research from the Universities of Bristol and Cambridge has found that ...
A new publication to help farmers prevent sheep lameness and offer advice o...
The Farmers’ Union of Wales is putting the spotlight on Liver fluke at next...
The UK is now third in the global rankings for utility-scale solar energy a...
A recent Rural Watch demonstration and information event gave Farmers’ Unio...
Retailers should confirm their commitments to sourcing UK lamb this season,...
A leading retailer has apologised after selling imported lamb in a Borders ...