As expected, farm incomes have dramatically increased this year.
In one of Ireland’s few successful sectors, farm incomes have increased by a whopping 46 per cent, as rising world prices for milk and grain benefit farmers and exporters.
The figures, released from the Central Statistics Office (CSO), refer to the estimates of Output, Income and Input in Agriculture for 2010 and reveal that Irish food output increased by €763 million.
The recovery has exceeded expectations and has compensated for the steep declines throughout 2009, placing the sector in a healthy position for expansion and for leading Ireland’s economic recovery.
Dairy farmers have especially benefited from the upturn, as they received an additional €427 million, a 38.8 per cent increase on 2009.