Fall in output sparks 30pc income collapse
Published 22/06/2010 | 05:00
Farm incomes collapsed by 30pc last year, latest Central Statistics Office (CSO) figures have revealed.
The dramatic decline in 2009 has been attributed mostly to a drop in goods output, which fell by 18.1pc for the period.
The 2009 drop in incomes comes on top of an 11.7pc decrease for the previous year.
However, the CSO final estimate figures for the year indicate that the real picture could be even more severe, as deductions for interest payments and land rental are not included in the 30pc total.
The figures are in line with the Teagasc National Farm Survey, which revealed that farm incomes had dropped by 40pc since 2007.
When compared with 2008, the CSO figures show the value of goods output by the agricultural sector fell by 18.1pc or €1.056m.
Milk output fell by 32.5pc or €530m last year, primarily due to a decrease in price, while cattle output dropped by 12pc or €200m for the same reason.