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Defra announce UK farm incomes rise by 8.7 per cent
NEWS RELEASE
Ref: 29/08
Date: 31 January 2008
Figures published by Defra today reveal farm incomes in the UK for 2007 have risen showing that total income from farming per head rose by 8.7 per cent, in real terms to £13,349.
Total income from farming in the UK is indicated to have risen in 2007 by 10.2 per cent in current prices, or by 5.7 per cent in real terms, to £2.54 billion. The total income from farming per full time person equivalent is estimated to have risen by 13.4 per cent in current prices.
Jeff Rooker, Minister for Sustainable Food and Farming and Animal Health, commented:
“I am encouraged by these figures that estimate a rise in farm incomes, during what was a very difficult year for farming, this is testament to the resilience of the industry’.
“Although the overall picture from these statistics is positive, I am aware that the rise has not been universal across all parts of the industry. Many livestock farmers have had a very difficult time in recent months due to a series of unforeseen events including animal disease outbreaks and increasing feed prices.
“For our part, Government remains committed to working with the agriculture sector to help farmers drive up their economic and environmental performance."
Notes to editors
1. The full statistics statistical release can be found at http://statistics.defra.gov.uk/esg/statnot/account.pdf
2. The table below shows the Agricultural Industry Income Trends in the UK for 2007.
3. Total Income from Farming (TIFF) is income generated by production within the agriculture industry, including subsidies. It represents business profits plus remuneration for work done by owners and other unpaid workers.
End
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Page published: 31 January 2008