2023 Northern Ireland farm incomes fell by 44%, mainly due to reduced milk prices and increased input costs, according to Daera.
Farm incomes in Northern Ireland fell by 44% in 2023, according to new figures from the Department of Agriculture, Environment and Rural Affairs (Daera). Total income from farming (TIFF) dropped from £609m in 2022 to £341m in 2023. The decrease is attributed to reduced milk prices and increased input costs. Farm business income across all farm types is expected to decrease by 46% from £51,043 in 2022-23 to £27,345 in 2023-24, with notable reductions in cereal and dairy farming.
July 09, 2024
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