CSO puts final figures on farm output and income in 2017
A final estimate of output, input and income in agriculture 2017 has been released by the Central Statistics Office (CSO) today (Monday, July 2).
This shows that aggregate farm income (operating surplus) increased by 30.9% to €3.457 billion in 2017.
This figure follows an increase of 2.1% in 2016. The overall value of goods output by the sector increased by 14%, or €992 million, to €8.056 billion.
Intermediate consumption increased by 3.5% over 2016, to €5.253 billion.
Cattle output value increased by 3.2% (or €72 million) to €2.361 billion. Cattle output volume was up 1%.
The output value of pigs was up 10.8% (some €50.4 million), to €515.6 million. Pig output volume in 2017 was up 2.9%, the CSO notes.
There was an increase in sheep output value of 2.8%, or €7.2 million, to €262.6 million. Sheep output volume rose by 3.7%.
In terms of cereals – barley, wheat and oats – the value of output increased by 2.8% or €6.4 million in 2017, to €237.2 million.
The CSO figures show net subsidies (these exclude forestry premia and levies) of €1.637 billion, up 1.8% on 2016, and accounting for 47% of operating surplus.
Expenditure on intermediate inputs was up 3.5% in 2017, at €5.253 billion. Increases of 8.1% on feeding stuffs and 3.3% on energy and lubricants contributed to the overall total.
Family Farm Income
This report follows the earlier publication of the Teagasc Family Farm Income, was up 32% in its provisional figure in 2017.
Family Farm Income per Farm (FFI) is calculated by deducting all the farm costs (direct and overhead) from the value of farm gross output. Unpaid family labour is not included as a cost.
It does not include income from non-farming sources and thus may not be equated to household income.
Overall household income will be greater than FFI in most cases given the numbers of farmers and or spouses holding off-farm jobs or being in receipt of pensions / unemployment assistance or other benefits.