Agri-Shop Ltd
Farminguk
27 June 2016 | Online since 2003
Scrutton Bland


22 May 2014 06:28:23|Finance,News

Farm incomes show 13% increase


New figures released by Defra have shown farm incomes increasing by 13% during 2013, marking a substantial recovery for the agriculture sector following the weather-hampered returns of the previous year.

According to Defra, total income increased by £631 million to £5.46 billion – meaning income is just 0.7% lower than it was in 2011 after inflation has been taken into account.

A Defra spokesperson said that the falling numbers of farm workers mean that individuals in the sector are taking home a higher share of the total income figure.

This meant that individual incomes rose to an average of £28,426 – an increase of 15% compared to 2012 and a rise of 0.6% against 2011 figures.

Andrew Heskin, a partner in Moore Thompson’s Farming Sector team, said: “After the appalling winters recently, it is great news that our farmers have seen a general increase in their income.

“The signs are also promising that thanks to a mild winter and relatively dry spring, our farmers and growers will enjoy a good 2014, particularly if the weather stays fine.

“However farmers must not become complacent, because as we have seen before, one bad summer can wipe out a lot of good work.

“We would urge farmers to put in place the right financial measures to ensure they are protected against any future hardship.”

According to Defra, a rise in output helped fuel this rise in earnings.

Output from crops increased by 3.7% (£334 million) to £9.2 billion, with the main driver an increase in potato prices of 22%.

Cereals had a mixed performance, with wheat prices up 7%, but a 20% reduction in total area planted meant output actually fell by £75 million. Barley fared better with an increase of total output of £199 million, however this was offset with a drop of 6% in prices due to the increase in supply. Oilseed rape saw a £245 million decrease in total value.

In the livestock sector, poultry output increased by £250 million, the pig sector rose by £141 million, while the dairy industry increased income by £505 million in total output of £4.2 billion. The success in the dairy industry was achieved on the back of a rise in milk prices, which rose on average from 28.1p per litre in 2012 to 31.6p a litre in 2013.

However the livestock industry as a whole was reduced in total against its potential because the cold start to 2013 meant feed costs rose by £740 million.

Being at the heart of the Fens, Moore Thompson has always provided specialist accountancy advice to agricultural and horticultural businesses with an agricultural team that knows the farming business inside and out.

Download



0 Comment


Name

Please enter your name


Email

Comment

Please enter your comment


Post Comment

Your comment submitted successfully.Please wait for admin approval.


Comments

No comments posted yet. Be the first to post a comment


Netherlands | 24 June 2016
Dutch crops grown on 'Mars' soil found safe to eat

Dutch scientists said Thursday crops of four vegetables and cereals grown on soil similar to that on Mars have been found safe to eat, amid plans for the first manned mission to the planet. Abundan...


Canada | 24 June 2016
Canadian farmers' percentage equity increase

Equity in Canada’s farm sector was up almost 6 per cent at the end of last year from the year before. However, Statistics Canada points out that’s the smallest percentage increase since 2009. Th...


France | 24 June 2016
Inside Europe: Is China changing the face of rural France?

In France, farms have often been in the same families for generations. But that's begun to change for agricultural communities in Berry, a cereal growing region in the center of the country. C...


Australia | 24 June 2016
Drought forces Queensland cattle to head to South Australia

The ongoing drought in Queensland is forcing graziers to send their cattle nearly 2,000 kilometres away from home on agistment. The Walker family from Cumberland station, near Barcaldine in central...


Congo | 24 June 2016
A potential agricultural powerhouse for Africa

The Democratic Republic of the Congo is the second largest country in Africa, after Algeria, but unlike the arid north African state, the DRC is endowed by nature with forest that covers two-thirds of...



Trending Now

Viewed
Discussed

Farms and Land for sale

PropertyLocation
PropertyAgent
PropertyMinimumPrice
PropertyMaximumPrice
PropertyCategory

Holiday Rentals search

AccommodationKeyword
AccommodationType
AccommodationCounty
AccommodationStarRating


Top stories you may have missed
closeicon
Username
Password