Latest news with #farmincome
Yahoo
21-07-2025
- Business
- Yahoo
Saskatchewan, Ottawa to boost farming program in response to trade issues and drought
REGINA — Saskatchewan's government and Ottawa say they're providing additional support to a farm income stabilization program in response to trade issues and dry conditions. The province says farmers who use AgriStability will see an increase in their compensation rate from 80 per cent to 90 per cent, resulting in larger payouts if eligible margins decline. It says the maximum payment cap is doubling from $3 million to $6 million per operation, and livestock producers will see a new inventory valuation method for feed used on the farm. Federal Agriculture Minister Heath MacDonald says the changes aim to give farmers more protection. Areas of southern Saskatchewan and Alberta are in a drought, which has decimated crop yields. Farmers are also dealing with trade uncertainty due to tariffs from China and the United States. This report by The Canadian Press was first published July 21, 2025. The Canadian Press Sign in to access your portfolio
BBC News
27-06-2025
- Business
- BBC News
NI agriculture: Farm incomes have increased by almost two-thirds
Farm incomes in Northern Ireland have increased by almost two-thirds in the past year, according to new figures from the Department of Agriculture, Environment and Rural Affairs (Daera).And across all farm types, business income is expected to rise from an average of £29,260 in 2023-24 to £60,622 in 2024-25, up £31,361 or 107%.Provisional estimates indicate that the total income from farming (TIFF) is expected to reach £766m in is an increase of 62.5% compared to 2023 (£471m). The actual rise is 56.2% once inflation is taken into account. TIFF is the return on own labour, management input and own capital the price of both feedstuffs and fertiliser went down, they still accounted for just over half the total value of everything all farmers also dropped in cost. Why have farm incomes increased? The increase in business incomes varies across farm types and is due to lower feed and fertiliser prices combined with more favourable prices for milk, beef and lamb along with better overall cereal yields. Agriculture Minister Andrew Muir said the changes were "reflective" of "particularly volatile" markets over the last five years, outside of his control."Consequently, my department focuses effort on helping farmers mitigate cost and price pressures by improving their productivity and resilience, while also addressing their environmental sustainability," he said."These are the goals I have set out within the new Sustainable Agriculture Programme and I would encourage all farmers to avail of the support."Total Gross Output for agriculture was 8% higher in 2024 (£3.19bn). There was a 9% increase in the value of output from the livestock sector, while field crops increased by 3% and horticulture increased by 10%.The dairy sector remains the largest contributor at £1.1bn, an increase of 21%.The intensive sectors of poultry, eggs and pigs all recorded increases.
