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England’s Farming Incomes Plunge by Over £1 Billion
Farming incomes in England plummeted by more than £1 billion last year, according to the latest government statistics.
Total Income from Farming (TIFF) – a measure of the agricultural industry’s performance – was estimated at £4.5 billion, marking a significant £1.1 billion (19%) decline from 2022.
This steep drop was primarily due to substantial decreases in crop outputs, which were only slightly mitigated by a reduction in intermediate consumption (input costs), according to the Department for Environment, Food & Rural Affairs (Defra).
In 2023, according to Farming UK, agriculture’s contribution to England’s economy was £10 billion, reflecting a £1 billion (8.7%) decrease from 2022.
The figures also indicate that total crop output in 2023 was £9.9 billion, a decline of £1.5 billion (13.1%) from the previous year. Defra attributed this drop to low commodity prices and poor yields, which severely impacted the value of many crop items.
Wheat experienced the largest decrease, with its value falling by £1.2 billion compared to 2022.
Meanwhile, total livestock output in 2023 remained steady at £12.4 billion. An increase in poultry output by £380 million offset a £353 million decrease in the value of milk.
Intermediate consumption in 2023 was £15 billion, a reduction of £0.4 billion (2.6%) from 2022. Defra noted that the value of most intermediate consumption items remained stable, except for fertilizer, which saw a £337 million decrease following a drop in global prices.
