Farm incomes drop 12% to average of €21,500 in 2012, says Teagasc

Irish farm incomes have dropped 12% to an average of €21,500 during 2012, according to Teagasc.

Releasing its Outlook 2013 report in Dublin yesterday, Teagasc is predicting a mild recovery next year, but still says this will fall short of the 2011 average of €24,861, which had been a 32% increase on 2010.

However, Teagasc economists indicate that the 2012 average reduction of 12% masks very significant variations in the change in income on individual farms.