Defra’s revised estimates of Farm Business Incomes in England from March 2017 to February 2018 show increases across all farm enterprises except for speciality pig units. The figures replace the initial forecast published at the end of February this year.
All eligible farm businesses benefitted from a 13% rise in the value of the Basic Payment Scheme (BPS) for 2017/18, with the average BPS worth £31,700.
Cereals farms saw an increase of 49% in average incomes to £64,200 and general cropping farms by 33% to 93,300. A good 2017 harvest with higher areas and yields, plus improved prices for most crops, lifted output. However, input costs also rose.
The average dairy farm income more than doubled with a 149% year-on-year lift to £119,700, driven by an average 23% increase in milk prices plus higher production.
Incomes on grazing livestock farms grew 36% to £21,900 on lowland units and by 5% to £28,300 in Less Favoured Areas.
Specialist pig farms incomes almost halved to £31,300 on average, with better pig prices offset by rising feed prices and a reduced closing valuation due to lower pig prices at the year end. Average poultry farms saw a 77% increase in income to £96,000.
The full 12 page report and tables is available here.