Income up 19.8%
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.
“It is a matter of concern that the volume of output of the main sectors - cattle, milk, sheepmeat and cereals - were all down, and the volume reduction in total output was 4%.”
“Unless farming is profitable independently of the Single Payment, the downward trend in farm producfion will continue,” he warned.
The CSO figures showed the value of cattle output decreasing marginally, due to fewer slaughterings, despite a price increase for cattle.
The value of sheep output decreased by 10.0% due to lower prices.
The value of milk decreased by 5.7%, due to lower price and volume.
The value of cereals output decreased by 26.0%, or €47m, due to a drop in production.
Energy costs increased by 9.1% or €22m, due mainly to higher prices.
The estimates for 2005 are provisional. Updated figures will be published in February and in June 2006.
