Annual farm surplus drops by €300 million

The official second estimate of operating surplus in agriculture in 2012 shows an annual decrease of 12.3%.

The official second estimate of operating surplus in agriculture in 2012 shows an annual decrease of 12.3%.

The Central Statistics Office says this follows a 30.8% increase in 2011.

The 2012 operating surplus was €2.1 billion compared with €2.4 billion for the previous 12 months. It is still well ahead of 2010 when the surplus was €1.8 billion.

Comparison of 2012 with 2011 shows the following changes in estimated value:

• Goods output at producer prices increased by 4.9% or €307 m.

• Cattle output increased by 19.1% or €343 m. (The value of pigs and sheep also rose meaning the total livestock value was €3.1 billion).

• Milk output decreased by 11.1% or €203 m to €1.6 billion.

• Pigs output increased by 8.2% or €33m.

• Cereals output decreased by 8.8% or €25m. The overall valure os crops increased to €1.8 billion with forage plants (mainly hay and silage) increasing by 7% to €1.2 billion.

• Total intermediate consumption increased by 9.0% or €438m.

• Feedingstuffs increased by 22.0% or €259m.

The value of subsidies less taxes on production decreased by 9.3% from €1,825m in 2011 to €1,654m in 2012.

This release updates the Advance Estimate of Output, Input and Income in Agriculture published by the CSO in December 2012.

Final estimates will be published in June 2013.