Farming incomes in England dropped by over £1 billion last year, according to recent government data.

Total Income from Farming (TIFF), a key indicator of the agricultural sector's performance, was estimated at £4.5 billion, down by £1.1b (-19%) from 2022.

This notable decline was primarily due to significant reductions in crop outputs, which were only slightly offset by a decrease in intermediate consumption (input costs), according to Defra.

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In 2023, agriculture’s economic contribution in England was £10b, a reduction of £1b (-8.7%) from 2022.

The data further reveals that total crop output in 2023 was £9.9b, a decrease of £1.5b (-13.1%) compared to the previous year.

Defra recognised the sharp drop in crop values to low commodity prices and poor yields.

Wheat experienced the most significant drop, with a reduction of £1.2b from 2022.

Total livestock output in 2023 remained at £12.4b, with a £380m increase in poultry output balancing out a £353m decrease in the value of milk.

Intermediate consumption in 2023 was £15b, a decrease of £0.4b (-2.6%) from 2022.

Defra noted that the value of most intermediate consumption items stayed stable, except for fertiliser, which saw a £337m decrease due to easing prices on the global market.