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2011 Another Good Year for Farm Incomes

Today Simon Coveney TD, Minister for Agriculture, Food and the Marine welcomed the CSO’s advance estimate of Output, Input and Income in Agriculture for 2011. The release showed a 33.4% rise in operating surplus for the agriculture sector.  The Minister said that "the increase in income was particularly strong in the cereals sector where improved prices resulted in a 52.5% rise in the output value of the sector." The milk sector also enjoyed a good year, with output value up €303.9m or 19.8% on 2010.

Similarly, the livestock picture showed increases in output value with cattle (16.7% or €250.1m), pigs (16.1% or €52.9m) and sheep (9.4% or €12.1m) all showing improvement.  The Minister was also pleased to see a 5.6% increase in volume output in the pigmeat sector despite the challenges in the sector early in the year.

Total direct payments to the agriculture sector are expected to amount to circa €1,941 million, which includes payments under the Single Payment Scheme, the Area Based Disadvantaged Compensatory Allowance Scheme, REPS, forestry premia, disease compensation and other smaller schemes.

The Minister noted the increase in input prices, which includes a 22% increase in feedstuff prices.  Fertiliser prices also increased by 9.6%, and fertiliser volume was down 8.3%.  "These input costs are likely to remain high given global trends and it is important that such costs are recognised when producer prices are being discussed" he said.

The Minister said that "2011 has been another excellent year for the sector and the outlook for 2012 is undoubtedly positive, with renewed strength in the sector leaving it well placed to increase its already vital contribution to the country's economic recovery".

Date Released: 19 December 2011