Teagasc confirms rebounds in farm incomes for all sectors last year

The average family farm income rose by 87% to just under €36,000 in 2024, with strong improvements in the dairy, tillage and sheep sectors

The proportion of farms categorised as economically viable was recorded at 42% in 2024, one of the highest results on record.

Family farm income (FFI) made substantial recoveries across all sectors in 2024, according to a recent report from Teagasc.

The average FFI rose by 87% to just under €36,000 in 2024. Income growth was driven by a combination of improved farm output prices, some easing in input costs and additional support payments under the new CAP (Common Agricultural Policy).