British farmers enjoy a rise in income

UK farm incomes rose in 2017 thanks to higher prices for wheat, milk and pigs.

Figures released from Defra reveal UK farmers’ income increased by 41% last year.

Total Income From Farming in real terms rose by 41% to £8.743bn, while average individual incomes in real terms were also up 41% to £29,794.

The main drivers for this increase in fortunes were a 10% increase in gross output across all sectors to £26.34bn.

In a report, Defra said: “The key contributors to the change were the rises in the value of milk by £1,044m, wheat by £368m, cattle and pigs by around £230m and oilseed rape £223m. In contrast costs were higher with animal feed and energy costs showing the largest increases, up £577m and £131m respectively.”