Rise in farm incomes for 2024 welcomed - Muir
Date published:
DAERA Minister Andrew Muir has welcomed the rise in farm incomes for 2024.
The publication of the first (provisional) estimate for 2024 farm incomes, indicates that the 'Total Income from Farming' (TIFF) in Northern Ireland rose by 62.5% (56.2% in real terms) from Pound 471million in 2023 to Pound 766 million in 2024.
Mr Muir said: "I welcome the total income from farming figure increase between 2023 and 2024. This increase is due to improved market prices for milk, beef and lamb combined with some reduction in feed and fertiliser prices for the 2024 year.
"Farm level income estimates also show that increases are expected for each of the individual farm types, however I appreciate that markets have been particularly volatile over the last five years and changes in farm incomes between years are reflective of this."
Minister Muir continued: "Fluctuating market conditions remains a very difficult issue for farmers to address. These fluctuations are mainly due to world markets which are very much outside our control. Consequently, my Department focuses effort on helping farmers mitigate cost and price pressures by improving their productivity and resilience, while also addressing their environmental sustainability. These are the goals I have set out within the new Sustainable Agriculture Programme and I would encourage all farmers to avail of the support."
