Farm incomes rise by 5.4%
Average family farm income was €15,557 per farm, compared with €14,765 in 2003.
However, the survey shows that income on full-time farms increased by almost 8% in 2004.
A total of 43,000 farms are classified as full-time and they earned an average income of €30,650, compared with €28,467 in 2003.
In 2004, 10%, or a total of 11,300 of farms had an income from farming in excess of €40,000. Three out of four of these farms were involved in dairying.
The increase of 5.4% in average incomes resulted from an increase of 4% in gross output combined with a 0.4% increase in direct payments.
Direct and overhead costs increased by 1% and 5%, respectively.
Liam Connolly, head of the Teagasc National Farm Survey team, said the 2004 figures highlight the enormous variation in farm incomes.
“The 2004 results again show two distinct groups in Irish agriculture. The first group are small, part-time farms engaged in extensive beef and sheep production, yielding low profit margins and highly dependent on direct payments and off-farm employment.
“The second group comprises the more dynamic full-time farms, which represent the commercial or viable sector of Irish agriculture, and are mainly involved in dairy and tillage farming,” he said.
Dairy farming generated the highest returns, with an average income of €34,421, an increase of 17% on 2003.
Beef farming generated the lowest average incomes. Returns from rearing systems increased by 2% to an average of €7,286.
