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.
Mixed farm income falls from record year
The average income of mixed farms decreased by 52% (£46,800) in 2023-24 to £43,400. This decrease is mostly due to falls in output. In 2022-23 mixed farms saw their highest average incomes since 2012-13 the first year for which we have comparable data.
Figure 5: Average farm business income, mixed and all farms, 2012-13 to 2023-24. 2023-24 prices.
Agricultural outputs decreased by 14% (£49,700), driven by a 24% (£28,600) drop in barley output and a 11% (£13,900) decrease in cattle output.
An increase in fertiliser costs of 20% (£8,300) contributed to a 3% (£10,300) rise in total input costs. This offset reductions in feed and fodder costs.
Mixed farms tend to make more money than the average farm, but experience fluctuations in performance over time. Mixed farms usually engage in complementary activities like growing crops to feed their cattle.
Table 5: Farm business income (FBI) and contributions to FBI, mixed, 2022-23 and 2023-24. 2023-24 prices.
|
Measure |
2022-23 |
2023-24 |
Percentage change |
|
1 Total output (£) = a + b |
366,300 |
321,900 |
-12% |
|
a Agricultural output (£) |
350,000 |
300,400 |
-14% |
|
b Contracting output (£) |
16,300 |
21,500 |
32% |
|
2 Support payments income (£) = c - d |
48,600 |
51,300 |
5% |
|
c Payment schemes (£) |
48,800 |
51,600 |
6% |
|
d Payment scheme costs (£) |
200 |
300 |
88% |
|
3 Total input (£) = e + f |
333,700 |
344,000 |
3% |
|
e Agricultural input (£) |
324,800 |
331,100 |
2% |
|
f Contracting input (£) |
8,900 |
13,000 |
46% |
|
4 Diversification income (£) = g - h |
8,900 |
14,200 |
60% |
|
g Diversification output (£) |
23,600 |
28,500 |
21% |
|
h Diversification input (£) |
14,700 |
14,300 |
-3% |
|
5 FBI (£) = 1 + 2 + 4 - 3 |
90,200 |
43,400 |
-52% |
|
6 Agricultural income = a - e |
25,200 |
-30,700 |
-222% |
|
7 Contracting income = b - f |
7,400 |
8,600 |
15% |