Survey results: 33% of Irish farms are financially ‘vulnerable’

Survey results: 33% of Irish farms are financially ‘vulnerable’Survey results: 33% of Irish farms are financially ‘vulnerable’

A third of Irish farms find themselves exposed from an mercantile perspective, according to a formula of the Teagasc National Farm Survey 2019.

Farm income varies widely by region, driven by plantation system, scale, profitability and approach payments, a news – published on Monday, Jun 29 – outlines.

Those regions where dairying is some-more prevalent are generally some-more essential and have a reduce faith on approach payments, Teagasc notes.

As is shown on a info-graphic (below), usually 34% of Irish farms are financially viable, according to Teagasc.

Source: Teagasc National Farm Survey

Average family plantation income (FFI) in 2019 was top in a south-east during €35,622 and lowest in a limit region, where normal plantation incomes were about one-third of that turn during only over €11,160, that is represented below.

Source: Teagasc National Farm Survey

This is of march contemplative of plantation craving combination in those areas, Teagasc notes, with a aloft superiority of drystock farms and smaller farms in areas where incomes are lower.

The relations significance of approach payments is top in a limit region, during 142% of normal FFI for a segment in 2019.

A identical conditions is clear in a west where a normal FFI for a segment was only underneath €16,483.

Off-farm employment

Just over half (52%) of plantation households had a source of off-farm practice income in 2019 – possibly by a rancher themselves or a farmer’s associate – a slight boost on a 2018 level. This can be seen on a info-graphic below.

Source: Teagasc National Farm Survey

Dairy plantation households were somewhat some-more expected to have an off-farm income within a household, with a suit of plantation spouses employed off-farm generally aloft than for other systems. This reflects a younger demography of these households, a news says.

The aloft age form of non-dairy plantation households is reflected in a fact that they were, on average, some-more than twice as expected to be in receipt of grant income.

According to a consult results, a third of sheep and ‘cattle other’ plantation holders or their spouses were in receipt of a grant in 2019 – underlining a comparison age form of farmers in these enterprises.

Source: Teagasc National Farm Survey

The suit of plantation households where a associate was employed off-farm rose somewhat to 34%, while a suit of farmers employed off-farm was somewhat less, during 33%.

The off-farm practice conditions differs by system, with cattle farmers some-more expected to work off-farm than in a box of other plantation systems.

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