Welsh Farm Incomes March 27, 2015 12:00 am The Welsh Government has released figures on showing a fall in farm incomes between 2013 and 2014. The data covers aggregate farm incomes (Total Income From Farming – TIFF) and average profits by business type (Farm Business Income – FBI). There has been a 5% decrease in TIFF between 2013 and 2014, down to £211.7 million. Over the period milk output increased by 3%whilst cattle output decreased by 2%. The biggest fall was seen in the value of subsidies, down from £308.3 million in 2013 to £256.0 million in 2014 (currency playing a large part in this). On a farm-level basis the income falls are much greater. The Welsh Government forecasts average FBI for ‘All Farm Types’ in Wales to fall by more than a quarter from £29,200 in 2013/14 to £22,200 in 2014/15. Details for the main Welsh farm types can be seen in the table below. All the data can be found at http://gov.wales/statistics-and-research/aggreagate-agricultural-output-income/?lang=en Farm Type Farm Business Income (£/farm) % Change 13/14 – 14/15 2012/13 2013/14 2014/15 Dairy 46,800 78,600 59,300 -25% LFA Cattle & Sheep 22,400 19,600 15,000 -23% Lowland Cattle & Sheep 38,200 29,100 23,100 -21% All Farm Types 27,600 29,900 22,200 -26%
