Scottish farm business income: annual estimates 2020-2021

Scottish Farm Business Income Estimates 2020-2021

A National Statistics publication for Scotland

Summary

Average farm income has risen to the second highest level since 2012, after adjusting for inflation. The average farm income, a measure of farm profit after costs, is estimated to be £39,300 in 2020-21. This is an increase of over £10,000 on the previous year.

The analysis, based on a survey of around 400 farms, indicates that the upturn in income is mostly due to reduced total input costs. This upturn is against the backdrop of the COVID-19 Pandemic.

Total input costs decreased five per cent to £207,900. This small change in inputs had a large positive impact on overall income.

In particular, commercial dairy farms had a good year. Average income was estimated at £99,600, the highest value since 2012. The average income in general cropping farms decreased, but this was mainly driven by a decrease in output from potatoes.

The survey estimates income from a sample of farms with economic activity of over £20,000. The survey covers the 2020 cropping year and the 2020-21 financial year. The sample excludes farms not in receipt of support payments such as pigs, poultry or horticulture.