After a temporary economic recovery in 2022, English farmers' income from agriculture has recently fallen significantly again. This is based on the UK Department of Agriculture's (DEFRA) current estimates of total income from farming (TIFF) for the last calendar year. Therefore, with the amount (calculated) of EUR 5.40 billion, it was EUR 1.27 billion, i.e. 19 percent. less than in 2022, without taking into account inflation.
Weaker yields, lower prices
Experts attribute the TIFF decline to significantly weaker year-over-year yields, compounded by lower prices. The value of plant production decreased by 13.1%. up to EUR 11.79 billion. However, this was the second highest nominal value since 1995.
The absolute highest devaluation in 2023 amounting to EUR 1.38 billion or 31%. up to EUR 3.10 billion was recorded for wheat. In relative terms, rapeseed production lost even more value, by 52%, and sugar beet production increased by 82%.
The value of animal production is similar to 2022.
At €14.78 billion, the total value that English farmers achieved from livestock production was in line with 2022 levels. The price increase in the value of poultry production amounted to EUR 452 million, i.e. 14 over percent. to EUR 3.61 billion, and a decrease in the value of raw milk production by EUR 420 million, or 8.5%. up to EUR 4.52 billion.
The value of egg production in the UK increased particularly sharply in 2023, by 51%. up to EUR 642 million. Beef production increased by 3.5%. to EUR 2.24 billion, pork by 9.5% to EUR 1.72 billion. However, the value of sheep meat production decreased by 8%. up to EUR 1.04 billion.
Significantly lower expenses on fertilizers and feed
English farmers have responded to a generally weaker market environment and significantly lower overall incomes by saving on inputs. Expenditures for this purpose decreased by 2.6%. to EUR 17.87 billion compared to 2022. The main impact here was a 29% drop in fertilizer spending. up to EUR 977 million. Feed expenses decreased by 4%. up to EUR 6.50 billion.
According to DEFRA, agricultural companies received a total of EUR 2.05 billion in subsidies, which is slightly less than in 2022. The interest burden on farmers increased relatively significantly, by over 18%, to EUR 440 million.
