Milk prices boosted farmers’ incomes this year by a third to almost €32,000, according to Teagasc.
At the agricultural agency's National Outlook conference, which took place on Tuesday (5 December) Kevin Hanrahan head of the organisation’s rural economy and development programme, said that farm incomes improved in 2017, reports the Irish Times.
“Overall average farm income in 2017 is estimated to have increased by about 30 per cent to about €31,900, compared to €23,500 in 2016,” Hanrahan said.
“This increase is driven by the improvement in dairy farm and, to a lesser extent, tillage farm incomes.”
The agriculture agency also warned, however, that earnings could dip in next year.
The organisation noted that milk prices could fall 10% in 2018, as 'world production begins to outpace growth in demand'.
© 2017 - Checkout Magazine by Donna Ahern