Southwest region recorded highest farm operating surplus in 2020

The Southwest region recorded the highest operating surplus in agriculture in 2020, according to figures released by the Central Bureau of Statistics (CSO) today (Thursday, October 7).

The South West had a surplus in 2020 of 775.8 million euros, an increase of about 70 million euros compared to 2019.

The Mid-West region recorded the second-highest surplus last year, at 558.8 million euros, an increase of about 60 million euros from the previous year.

The Midlands region recorded the smallest surplus last year, at 198.8 million euros. However, this is an increase of around 35 million euros compared to 2019.

All regions saw their operating surplus increase in 2020 compared to the previous year. These break down as follows:

Region 2020 2019
Frontier 440.8 million euros € 412.6 million
Where is € 413.2 million 370.4 million euros
Midwest € 558.8 million 497.6 million euros
South East 513.5 million euros 458 million euros
South West 775.8 million euros € 705.7 million
Dublin and Middle East 361.9 million euros € 317.7 million
Midlands 198.8 million euros 162.7 million euros
State 3.26 billion euros € 2.92 billion
Data source: OSC

At the state level, livestock, milk and crops accounted for 40.3%, 30.9% and 21.8% respectively of the total value of agricultural production at basic prices in 2020.

Net subsidies (that is, subsidies on products minus taxes on products) represented 1.1% of the value of agricultural production at basic prices last year.

The value of agricultural production at basic prices increased by 4.6% (+ 391.8 million euros) in 2020.

The value of livestock increased by 6.5% (+ € 219.4m), with prices accounting for 3.5% of this growth. Cattle prices increased by 5.3% and volumes increased by 1.4%, leading to an increase in the overall value of cattle by 6.8% (+ 146.6 million euros).

With a price increase of 11.1%, the value of sheep increased by 16.3% (+ € 42.5 million).

Milk production increased by 5.5% (+ € 144.1 million) under the combined effect of an increase in milk prices (+ 1.6%) and an increase in volumes (+ 3.9%).

Even though the prices of cereals increased by 7.6%, their value fell by 11.5% (-37.7 million euros) due to a contraction in production volumes of 16.5%.

Despite this, the overall value of crop production increased by 2.6% (+ € 49.3m) due to the strong increase in the value of fodder plants (+ 9.3% or € 97.5m) .

On the input side, the change in intermediate consumption costs is only marginal (+ 0.3% or € 17.6 million).

While some costs have increased, notably fodder crops (+ 9.6% or 100.3 million euros) and maintenance and repairs (+ 10.1% or 49.3 million euros) – d ‘others have declined.

Energy and lubricants expenditure contracted by 12.2% (-53.8 million euros), while the cost of fertilizers contracted by 8.0% (-46 million euros).

The net impact of these and other changes has been an overall increase of 11.6% (+337.9 million euros) in farm operating surplus.

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