Farm Incomes – Wales April 18, 2013 12:00 am Following on from last month’s English and Scottish Farm Business Income (FBI) and Total Income from Farming (TIFF) data the Welsh Government has released its figures. These can be found at http://new.wales.gov.uk/topics/statistics/headlines/agriculture2013/aggregate-agricultural-output-income-2012/?lang=en The data shows a £79.7 million increase in TIFF between 2010 and 2011, to £239.8 million. The initial 2012 estimates show TIFF falling by £116.2 million to £123.6 million, a 48% reduction in real terms. The main driver for the reduction in profitability was a fall in the lamb price in 2012, coupled with higher costs across all sectors. The Welsh government forecasts average FBI for ‘all farm types’ in Wales to decrease by 29%, from £41,100 in 2011/12 to £29,000 in 2012/13. The fall in FBI can be attributed to factors including increase input costs, reduced output and change in exchange rate making Single Payment receipts around 8% lower than the previous year. Details for the main Welsh farm types can be seen in the table below. WELSH FARM BUSINESS INCOMES – Source: Welsh Government Farm Type Farm Business Income (£/farm) % Change 11/12–12/13 2009/10 2010/11 2011/12 2012/13 Dairy 48,600 56,800 66,100 52,400 -21% LFA Cattle & Sheep 36,600 29,800 34,600 21,700 -37% Lowland Cattle & Sheep 31,700 30,300 35,300 23,200 -34% All Farm Types 36,800 35,700 41,100 29,000 -29%
