United Kingdom - Revisions to Total Income from Farming 2009

These statistics present the latest estimates of aggregate accounts for agriculture for 2009 and update those published on 28 January 2010.
Thursday 2 December 2010 (7 years 9 months 18 days ago)
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These statistics present the latest estimates of aggregate accounts for agriculture for 2009 and update those published on 28 January 2010.

The headlines for the 2009 aggregate agricultural accounts are:
• Gross output at basic prices fell by £556 million (-2.8%) to £19,554 million.
• Intermediate consumption rose by £362 million (2.9%) to £12,950 million.
• Gross Value Added at basic prices fell by £918 million (-12%) to £6,603 million.
• Total Income from Farming for 2009 was £3,585 million, down by £820 million (-19%) from 2008. In real terms, after adjustment for the effect of inflation, Total Income from Farming fell by £797 million (-18%).Gross output at basic prices fell by £556 million (-2.8%). The value of total crop output fell by £925 million (-12%) in 2009 compared to 2008, largely due to a 27% fall in the value of output of cereals as prices were lower than the high prices of autumn 2007 through to spring 2008. Total livestock output rose by £229 million (2.2%) with a £493 million (7.5%) increase in livestock produced for meat being largely offset by a fall of £323 million (-9.4%) in the value of production of milk owing to lower prices and declining production.
Intermediate consumption rose by £362 million (2.9%). The value of most inputs consumed increased, particularly that for fertiliser, which rose by £290 million (26%) to £1,420 million. This was partly offset by a fall in the value of animal feed, reflecting the fall in cereal prices, and in fuels for motor and machinery, which mirrored movements in oil prices.

The fall in the value of output and the increase in the value of intermediate consumption led to a fall in Gross Value Added at basic prices of £918 million (-12%).

The value of total consumption of fixed capital rose by £173 million (5.6%). Payments to farmers through schemes that are not linked to production, principally the Single Payment Scheme and agri-environment schemes, rose by £371 million (11%), due primarily to an increase in the exchange rate at which payments through the Single Payment Scheme and other EU direct aid schemes are converted from Euros to sterling. The value of compensation of employees rose by £134 million (5.4%) while net rent (rent paid less rent received) rose by £25 million (8.1%). The value of net interest (interest paid less interest received) fell by £59 million (-16%).

Total Income from Farming, which is income generated by production within the agriculture industry, including subsidies and represents business profits and remuneration for work done by owners and other unpaid workers, fell by £820 million (-19%) to £3,585 million. In real terms, after adjustment for inflation, Total Income from Farming fell by £797 million (-18%).

http://www.defra.gov.uk/evidence/statistics/foodfarm/farmmanage/agriaccount/documents/uk-account.pdf

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