Latest farming income figures give logic for optimism

The Scottish Government has published the aggregate Total Income From Farming (TIFF) and Farm Business Income (FBI) estimates for 2010/11 along with revisions for previous years.

The report shows that TIFF increased by £23million to £596million between 2010 and 2011, and the average FBI also increased by £10,900 to £45,100 a year.

While there were decreases in FBI for some farm types, there were increases for dairy, lowland cattle and cereals farms.

Scottish Conservative Rural Affairs Spokesman, Alex Fergusson MSP said:

"It is good to see the optimism that exists within the farming sector at this time, and the latest income figures give some logic for that optimism.

"However, it is important to recognise that the better prices that have been received for our agricultural products owe more to international exchange rates and the reduction in our national beef herd and sheep flock that to any particular Government policy.

"We welcome these figures wholeheartedly, while recognising the ever present challenge of rapidly rising input costs which will need to be addressed if profitability is not to be affected."

The report shows that Total Income From Farming (TIFF) increased by £23 million to £596 million between 2010 and 2011. In 2011, there was a £338 million (13.9 per cent) increase in the value of agricultural outputs to £2.76 billion. There was also a £32 million (9.7 per cent) increase in consumption of fixed capital and a £5 million (0.8 per cent) decrease in payments and subsidies

Average Farm Business Income (FBI) in 2010/11 was £45,100 an increase of £10,900 (32 per cent) from 2009/10. Trends in FBI between 2009/10 and 2010/11 are most closely related to trends in TIFF between 2009 and 2010, which rose by 25 per cent

There were decreases in FBI between 2009/10 and 2010/11 for the following farm types:
- Specialist Beef LFA down £5,400 to £32,500
- Cattle and Sheep LFA down £1,600 to £42,900

FBI remained virtually unchanged for:
- Specialist Sheep LFA at £29,200

FBI for all other farm types increased in 2010/11:
- Cereals up £34,600 to £50,900
- General Cropping up £41,200 to £59,700
- Dairy up £14,800 to £73,600
- Lowland Cattle and Sheep up £2,200 to £34,300
- Mixed up £8,100 to £47,800

SCOTTISH FARM INCOME ESTIMATES 2011:

http://www.scotland.gov.uk/Resource/0038/00386506.pdf

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