Rural Payments and Services

The Chief Statistician has released figures on 2022 to 2023 farm incomes showing the average income increased to its highest level since 2012 to 2013, after adjusting for inflation. Average farm income, a measure of farm profit after costs, is estimated to be £69,100 in 2022-23. This is an increase of £14,600 on the previous year. Income from support payments, agricultural, diversified and contracting activity, all contribute to average farm income.

For the first time since 2012 to 2013, when these records began, agricultural activity alone is profitable for the average farm. General cropping farms saw the strongest growth with average incomes rising by 83% to £167,100, its highest value.

In 2022-23 total average output increased by 19% to £280,300. Farms on average received £46,300 in support and made £5,000 from diversification, like renting out farm buildings. Total input costs increased 12% to £262,400 for the average farm. Increasing prices of agricultural inputs such as feed, fuel and fertilisers were seen for a second year.

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