“Farm Incomes in Wales 2009-10” was published to the Welsh Assembly Government website today (8 December) and shows an average increase of 16 per cent in the agriculture sector across Wales.
Rural Affairs Minister, Elin Jones said:
“I am encouraged by today’s farm income statistics, particularly during such difficult economic times. The 16 per cent increase in income across the sector compares to a 15 per cent decrease in England, with average farm incomes in Wales at £36,200 compared to £31, 300 last year.”
The increase in average farm income on grazing livestock farms has been attributed to strong beef and lamb prices during 2009, the impact that the £/€ exchange rate has had on the Single Payment, and a reduction in some farm input costs.
However, lower farm gate milk prices during 2009 resulted in a decrease in average farm incomes on dairy farms. Average Farm Business Income (FBI) on dairy farms decreased 16% from £62,200 in 2008-09 to £52,200 in 2009-10.
On Less Favoured Area (upland) cattle and sheep farms, FBI increased by 37% to £33,600. There was a similar increase on lowland cattle and sheep farms, with average FBI up 32% to £32,300 in 2009-10.
The Minister said:
“The survey results represent very good news for the Welsh farming industry, which is succeeding despite the global economic difficulties. Farmers are responding to the market place and producing food to the highest quality, welfare and environmental standards that the consumer demands. This will ensure that our industry is resilient in the face of future changes.”