Lower production costs help farm incomes to stabilise, survey finds

Lower production costs saw farm incomes stay relatively stable so far this year, according to the Teagasc Mid-year Outlook for Irish Agriculture 2014.

Teagasc economist Trevor Donnellan said: “Following two high production cost years in 2012 and 2013, Irish farmers are finally now seeing a reduction in their input spending.”

The Teagasc National Farm Survey 2013, published yesterday, showed average income levels on farms remained steady in 2013 at an average of €25,437 per farm. However, the stability in the average income level masks dramatically contrasting fortunes across the different farming enterprises, Teagasc noted.