Farm incomes stagnate as Teagasc predicts little improvement in 2003

TEAGASC, production economists and enterprise specialists are predicting static farm incomes or perhaps a small increase for 2003.

It follows a difficult 2002 when wet weather and a lack of sunshine severely affected grass production, silage making and cereal yields, leading to increased costs and reduced farm incomes.

According to provisional estimates published by the Central Statistic Office, farm incomes fell by 8.5%, after two very good years when they increased significantly.