2023 Irish farm incomes declined 57% to €19,925 due to lower prices, production, and high costs, with dairy and tillage farming most affected.
2023 saw a significant decline in average Irish farm income, with the Teagasc National Farm Survey reporting a 57% drop to €19,925. Lower farmgate prices, reduced production levels, and high costs led to the decline in income. Dairy and tillage farming were most affected, with milk prices falling 28% and cereal prices decreasing by 30-35%. The results show that Irish agriculture faced considerable challenges in 2023, with the lowest average incomes recorded in several years across all farm systems.
July 23, 2024
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