March 1, 2012

Czech farmers' 2011 profit soars to record-high

In 2011, the aggregate profit of farmers in the Czech Republic jumped more than 2.5 times to CZK13.5 billion (US$728.67 million), the highest level since 2000 when the Czech Agricultural Association started its records, local news reported.

The growth was supported by rising harvest and higher production prices. Grain harvest grew by nearly one-fifth, potato harvest by more than 18%, sugar beet harvest by 13% and rapeseed harvest by 3%. Purchasing prices of agricultural commodities increased by one fifth on average in the first 11 months of 2011.

Prices of vegetable commodities rose by almost 40%. According to Eurostat methodology, also used by the Czech statistics office CSU, Czech farmers posted a profit of CZK15 billion (US$.81 billion) in 2011, the association said. CSU is scheduled to release official figures for 2011 in March.