Income up 19.8%

THE Central Statistics Office’s first estimate for 2005 shows that income in agriculture increased by 19.8% this year, before deductions for interest payments and land rental.

IFA President John Dillon welcomed cash flow improvement which he attributed to a carry forward of more than €600m of 2004 CAP direct payments, coinciding in 2005 with payment of up to 90% of this year’s Single Farm Payment.

“Leaving this exceptional factor aside, national farm income this year would be broadly in line with last year’s level in money terms”, he said.