Farm Incomes Boom
2011 was a very successful year for farm businesses, with profits hitting their highest levels for 15 years. This impressive performance is shown in the latest total income from farming figures released by Defra in May.
Total income from farming
The total income from farming (TIFF) figures show the returns to entrepreneurs (farmers) in UK farming – they are a close reflection of the aggregated profit for the agricultural industry. For 2011, profit is (provisionally) put at £5.69bn. This is a 25% improvement in real terms over the 2010 figure. This profit is also the industry's best performance since 1996, and is £0.5bn higher than the next best year in that 15-year period (which was 2009).
Output rose by 15% between 2010 and 2011 (at current prices), with crops increasing by 21% and...
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