Scottish farm business income: annual estimates 2023-2024
Farm business level estimates of average incomes for 2023-2024. An Accredited Official Statistics publication for Scotland.
First published: 3 April 2025.
Cereal farm income falls after two high years
Cereal farm average income was £38,900 in 2023-24, a decrease of 63% (£65,900) from 2022-23. Falling cereal outputs mostly drove the decrease in cereal farm income.
Figure 2: Average farm business income, cereal and all farms, 2012-13 to 2023-24. 2023-24 prices.
Agricultural output fell by 23% (£71,500), largely driven by barley output which fell by 29% (£34,800), following lower cereal yields and prices compared to the previous year.
Cereal yield in Scotland was exceptionally high in 2022, while 2023 was a more challenging harvest due to weather conditions. Trade disruption and tightening supplies following Russia’s invasion of Ukraine, led to volatility and high cereal prices in 2022-23. Prices of cereals including barley stabilised somewhat during 2023-24.
Total input costs rose by 1% (£1,700). Rising fertiliser costs were partly offset by decreases in costs associated with machinery depreciation and land and property costs. Fertiliser cost rose by 21% (£10,400) from 2022-23.
Table 2: Farm business income (FBI) and contributions to FBI, cereal, 2022-23 and 2023-24. 2023-24 prices.
|
Measure |
2022-23 |
2023-24 |
Percentage change |
|
1 Total output (£) = a + b |
340,100 |
273,800 |
-19% |
|
a Agricultural output (£) |
316,100 |
244,600 |
-23% |
|
b Contracting output (£) |
24,000 |
29,200 |
22% |
|
2 Support payments income (£) = c - d |
36,800 |
35,400 |
-4% |
|
c Payment schemes (£) |
36,900 |
35,600 |
-4% |
|
d Payment scheme costs (£) |
100 |
200 |
82% |
|
3 Total input (£) = e + f |
285,000 |
286,700 |
1% |
|
e Agricultural input (£) |
273,700 |
273,700 |
0% |
|
f Contracting input (£) |
11,300 |
13,000 |
15% |
|
4 Diversification income (£) = g - h |
13,000 |
16,300 |
26% |
|
g Diversification output (£) |
22,200 |
26,000 |
17% |
|
h Diversification input (£) |
9,200 |
9,700 |
5% |
|
5 FBI (£) = 1 + 2 + 4 - 3 |
104,800 |
38,900 |
-63% |
|
6 Agricultural income = a - e |
42,400 |
-29,100 |
-169% |
|
7 Contracting income = b - f |
12,600 |
16,200 |
28% |