November 4, 2009

UK agriculture income slightly higher in 2008-09

The average farm business income for all farm types in the UK was slightly higher in 2008/09 compared to the previous year, according to DEFRA figures.

The Farm Business Survey shows an average figure of GBP50,900 (US$83,522) for the year ending February, up from GBP48,200 (US$79,092) in 2007-08.

Contributing factors include firmer prices during the year for a range of commodities, particularly pork, lamb and beef and to a lesser extent milk, said Defra.

The value of single farm payments also increased due to a more favourable exchange rate.