Irish Farm Income Fell 22% in 2012 on Lower Output, Higher Costs

Farm income in Ireland fell 22 percent in 2012 after unfavorable weather cut production and costs rose, the Irish Farmers’ Association said.

Average farm income fell to about 18,000 euros ($23,000), the Dublin-based association said today in a statement on its website. Ireland saw above-normal rainfall this summer. More than 90 percent of farm income will come from direct payment programs in 2012, the IFA said. The European Union’s Common Agricultural Policy programs contribute about 1.6 billion euros to Irish farms annually, and potential funding cuts “would have a directly negative impact on incomes and production,” it said.

To contact the reporter on this story: Whitney McFerron in London at wmcferron1@bloomberg.net

To contact the editor responsible for this story: John Deane at jdeane3@bloomberg.net