This item was published during the term of a previous administration that ended in April 2007
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Farm Income Estimates 2004
27/01/2005
The Executive today published forecast estimates for
aggregate and individual farm level incomes for 2004.
The figures show a forecast rise in Total Income From
Farming and a predicted rise in income at the farm
level.
Total Income From Farming is forecast to increase to
£505 million, a rise of 2.5 per cent over the previous year
before inflation is taken into account. In real terms, this
represents a fall of around 0.4 per cent.
Average Net Farm Income for all farm types is £19,800
for 2003/4, which is up on the 2002/3 figure of £10,400.
Avereage Net Farm Income is forecast to fall to £10,500 in
2004/5.
Rural Development Minister Ross Finnie said:
"The Scottish Executive is commited to building a
sustainable agriculture industry and these figures
underline its resilience.
"Farming in Scotland has maintained its recent strength
in spite of the combination of adverse weather at harvest
time and the unfavourable impact of the strong pound.
"It is disappointing that the imporvement in Net Farm
Incomes in 2003/04 is not forecast to be maintained into
2004/05, but the drop is understandable given the difficult
harvest in 2004
"Increased focus on the market has been made possible by
the single farm payment system and I hope farmers can use
this to build a profitable future."