Farm incomes fall 90% in five years
By FWi staff
THE average farmer has seen income fall by 90% in five years, according the results of a survey published by accountants Deloitte and Touche.
Findings from the survey show that income on a 500-acre farm shrank from 80,000 five years ago to 8000 in 1999, and is expected to fall further next year.
Figures were collected from farms covering 100,000ha. Deloitte says profits are at their lowest level since the company began its survey 11 years ago.
The average farmer made 28% less last year than in 1998 – a statistic which was described by the National Farmers Union as “depressing”.