Farming incomes in England plummeted by over £1 billion last year, according to the latest government statistics.
Total Income from Farming (TIFF) - a measure of the performance of the agricultural industry - was estimated to be £4.5bn, a fall of £1.1bn (-19%) from 2022.
This significant decline was driven by large decreases in crop outputs, marginally offset by a fall in intermediate consumption (input costs), Defra said.
In 2023, agriculture’s contribution to England’s economy was £10 billion, a fall of £1 billion (-8.7%) from 2022.
The figures go on to show that total crop output in 2023 was £9.9 billion, a decline of £1.5 billion (-13.1%) from the year before.
Low commodity prices combined with a poor yield resulted in substantial decreases in the value of many crop items, Defra said.
Wheat saw the largest decrease, at £1.2 billion less than in 2022, it added.
Total livestock output in 2023 remained at £12.4bn, with an increase in poultry output of £380m offsetting a £353m decrease in the value of milk.
Intermediate consumption in 2023 was £15 billion, a fall of £0.4 billion (-2.6%) from 2022.
Defra said the value of most intermediate consumption items remained stable with the notable exception of fertiliser, which decreased by £337m following easing of prices on the global market.
