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.
General cropping income falls after highest year
Average income for general cropping farms was £83,300 in 2023-24. This is a decrease of 53% (£94,000) from the record high of the previous year. This was driven by falls in agricultural output.
Figure 3: Average farm business income, general cropping and all farms, 2012-13 to 2023-24. 2023-24 prices.
Agricultural output fell by 22% (£118,800) in 2023-24, largely driven by falling barley, wheat and potato outputs. Barley output fell by £40,800 (31%) following lower yields and market prices for cereals in 2023-24.
Total input costs decreased by 8% (£35,700), despite a 212% (£18,300) increase in casual labour costs. Falling input costs were largely driven by decreases in regular labour costs by 58% (£18,200), land and property costs by 24% (£15,800), and machinery running costs by 12% (£10,500).
General cropping farms have a high average income compared to other farm types. However, while some farms make large incomes, others make a loss. Average income for general cropping farms is also considerably more volatile than for other farms. This reflects their greater exposure to wholesale market and weather fluctuations.
Table 3: Farm business income (FBI) and contributions to FBI, general cropping, 2022-23 and 2023-24. 2023-24 prices.
|
Measure |
2022-23 |
2023-24 |
Percentage change |
|
1 Total output (£) = a + b |
566,700 |
443,500 |
-22% |
|
a Agricultural output (£) |
543,000 |
424,100 |
-22% |
|
b Contracting output (£) |
23,700 |
19,300 |
-19% |
|
2 Support payments income (£) = c - d |
44,500 |
38,700 |
-13% |
|
c Payment schemes (£) |
44,500 |
38,800 |
-13% |
|
d Payment scheme costs (£) |
100 |
100 |
11% |
|
3 Total input (£) = e + f |
442,700 |
407,000 |
-8% |
|
e Agricultural input (£) |
433,400 |
397,400 |
-8% |
|
f Contracting input (£) |
9,300 |
9,600 |
3% |
|
4 Diversification income (£) = g - h |
8,800 |
8,100 |
-8% |
|
g Diversification output (£) |
19,200 |
19,400 |
1% |
|
h Diversification input (£) |
10,400 |
11,300 |
8% |
|
5 FBI (£) = 1 + 2 + 4 - 3 |
177,300 |
83,300 |
-53% |
|
6 Agricultural incomes = a - e |
109,600 |
26,700 |
-76% |
|
7 Contracting income = b - f |
14,500 |
9,800 |
-33% |