Farm incomes rise 46pc as cereals lead recovery
Published 14/12/2010 | 05:00
The agriculture sector has rebounded after two years of low prices to generate a 46pc rise in farm income this year, provisional figures from the Central Statistics Office have revealed.
The major recovery in incomes was driven by increases in the value of milk, cattle and particularly cereals over the past 12 months.
The figures reveal that farm incomes have recovered after they fell by 40pc in 2009 and 2008.
Comparing this year with last year, the CSO analysis showed that goods output at producer prices rose by 16.3pc or €767.3m, while milk output rose by 38.8pc or €427m.
The value of cattle went up 12.2pc or €177.6m, while a 7.8pc increase in the value of pigs output generated an additional €24m.
However, the biggest difference between last year and this, in a single sector, was the 88.8pc -- €12.3m -- difference between the value of cereals in 2009 and the past 12 months.
This year's figure of €202m for cereal output was the second highest annual figure in the past 15 years, according to Minister for Agriculture Brendan Smith.
The minister welcomed the figures, which he said pointed to a massive recovery following a very difficult 2009.