Total Income from Farming Estimates: 2018-2020
Total Income from Farming (TIFF) is the official measure of the profit gained by the agriculture industry in Scotland. It provides a breakdown of the value of farm production, subsidies and costs.
Three largest costs to farming rise in 2020
The main costs associated with agricultural production have marginally risen over the last 10 years. Between 2019 and 2020 there was a large change for the top three costs; feedstuffs (livestock feed), consumption of fixed capital and labour. Feedstuffs continue to be the most variable costs which can be affected by factors such as extreme weather events or global markets. Capital fixed costs have risen which can be attributed to a combination of take- up of the Sustainable Agriculture Capital Grant Scheme and increased demand for store cattle.
Consumption of fixed capital (commonly referred to as depreciation), in financial terms recognises the economic cost of using up a farm's previous capital investment (in livestock, buildings, plant and machinery).
Contact
Email: christina.coakley@gov.scot
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