Improved prices drive increases in farm returns
Dairy and tillage operations see income rises of 92pc and 119pc
Income on dairy and tillage farms doubled last year as global dairy and markets experienced a massive rebound from the lows of 2009.
Family farm income (FFI) across all dairy farms last year was €47,171, up 92pc from 2009, according to the Teagasc National Farm Survey, while family farm income on tillage farms increased by 119pc to €33,381 last year.
The welcome recovery on dairy farms was due to a combination of higher output and substantially better milk prices last year compared with 2009.
Gross output on the 16,000 dairy farms covered by the Teagasc survey increased by 23pc from 2009 to last year.
The average milk price paid to farmers in the survey increased by 29pc from 2009 to last year, and volume of milk delivered for sale increased by almost 8pc.
The total value of direct payments to dairy farmers fell by 3pc from 2009 to last year and made up 15pc of total farm gross output on dairy farms in 2010.
In terms of expenditure, dairy farmers' spend was more or less unchanged from 2009 to last year, but there was a 5pc increase in expenditure on concentrate feeds as the amount and price of feed increased.