Estimates of farm incomes, 2012-13

This release presents first estimates of farm income figures for 2012-13 based on two different measures: Farm Business Income (FBI) and Net Farm Income (NFI). The latest release updates the statistics previously released on 30 November 2012.

The key points from the latest release are:

• average Farm Business Income (FBI) across ‘All Farm Types’ is forecast to fall by 29% from £41,100 in 2011-12 to £29,000 in 2012-13
• the drop in average farm income is the result of falling lamb prices, rising input costs and reduction in the value of the Single Payment
• on LFA Cattle & Sheep farms, average Farm Business Income is forecast to fall by 37% in 2012-13 to £21,700.  Average Farm Business Income on Lowland Grazing Livestock and Dairy farms is forecast to fall by 34% and 21% respectively in 2012-13

Contact

Phone: 029 2082 5051
Email: stats.agric@wales.gsi.gov.uk

Next update

November 2013 (provisional - to be confirmed on the 'Due out soon' page)