Farm incomes increase by 17.3% in 2001

FARM incomes increased by 17.3% in 2001, bringing average income per farmer to 15,840, according to the Teagasc national farm survey published yesterday.

Thu, 24 Oct, 2002 - 01:00

Ray Ryan, Agriculture Correspondent

This is the second annual increase in incomes following a period of decline in the late 1990s. Incomes in 2001, for the first time, exceeded the previous high level of 14,326 in 1995.

Liam Connolly, who led the Teagasc income survey team, said that in spite of the increase in the past two years, the relationship between farm incomes and average industrial earnings has disimproved. In 1995, average income per person employed in agriculture was 61% of the average industrial wage. This dropped to 40% in 1999 and was at 50% in 2001. The improved position was due mainly to higher output in the dairying, cattle and sheep sectors, resulting from higher prices and increased direct payments.