NORTHERN IRELAND-FARM INCOMES.
Northern Ireland farmers have been hit by a drop in income because of a huge jump in production costs, new figures show.
The average farm business income is expected to drop 2 per cent to £29,558 in this financial year.
The total income from farming across the north is down 1.3 per cent – 5.5 per cent in real terms – from £236 million in 2007 to £233m in 2008.
A substantial rise of 13 per cent in gross output – to £1.4 billion – was more than offset by a 19 per cent increase in gross input - up at £1.06bn.
Agriculture minister Michael Gildernew said she was concerned by the provisional figures released by her department.
"The overall reduction in 2008 agricultural income reflects the fact that the cost of key inputs such as feedstuff, fertiliser and fuel were greatly increased from previous years," she said.
"This was more than enough to offset the gains in the value of output that were also recorded."
"The industry entered 2009 with considerable uncertainty."
Ms Gildernew said although beef and sheep prices had been showing welcome increases and feed, fuel and fertiliser costs were easing, the dairy sector was facing some very difficult market conditions.