Farm Business Income

Published 16 September 16

  • The average UK Dairy Farm Business Income in 2014/15 was 12.0% lower than in 2013/14⁺.
  • Figures for England for the 2014/15 milk year show a decrease in Dairy Farm Business Income (FBI) of 4.5% compared to 2013/14.
  • The average FBI for all farm types in England for 2014/15 was £34,500.
  • The NI Dairy Farm Business Income figure was £45,500 for the 2014/15 milk year, down 26.0% from 2013/14.
  • Wales had a decrease of 9.1% in Farm Business Income for dairy farms between 2013/14 and 2014/15, down to £70,000 from £77,000.

The decrease in dairy farm business income in 2014/15 was driven by the decrease in milk prices over the course of 2014/15.

The DEFRA provisional figure for the 2015/16 Dairy FBI in England is £46,500, a decrease of 44.6% from 2014/15. The main reason for this fall in income is the continued decrease in milk prices over the course of 2015/16.

The provisional figure for Wales for 2015/16 is £42,000, a decrease of 40.0% from 2014/15 and the provisional figure for Northern Ireland is £10,000, a decrease of 78.0%

⁺UK figure is based on a straight average of the four regions.

From 2009/10 data taken from ‘Agriculture in the UK’ publication.

England, Wales and Northern Ireland results from 2013/14 onwards derived from 2010 standard output coefficients. Scotland are derived from 2007 standard output coefficients for all years.  

Accounting Year a

England

Wales

Scotland

Northern Ireland

 

£ Per Farm

2003-04

30500

25700

 

23800

2004-05

33000

28500

 

24900

2005-06

33500

30600

 

28700

2006-07

31000

30500

47366

27261

2007-08

55000

51300

69602

58737

2008-09

69500

49700

78446

37520

2009-10

59000

47500

80000

20000

2010-11

66000

57500

78000

51500

2011-12

86500

68000

82000

58000

2012-13

52500

45000

45500

28000

2013-14

88000

77000

78000

61500

2014-15

84000

70000

68500

45500

2015-16*

46500

42000

n/a

10000

 

a Accounting years ending on average in February

*Provisional. 

Data shown is average farm business income at current prices

Source: DEFRA, SEERAD, Welsh Government, DARD

Farm Business Income

* Provisional

Farm Business Income equals
Total output from agriculture (includes crop and livestock valuation change) plus
Total output from agri-environment schemes plus
Total output from diversification plus
Single payment scheme less
Expenditure (costs, overheads, fuel, repairs, rent, depreciation, paid labour) plus
Profit/(loss) on sale of fixed assets