The latest figures released by Welsh Government derived from the Farm Business Survey show that for the year ending March 2022 farm incomes in Wales increased for the third consecutive year on Dairy and Cattle and Sheep LFA (Less Favoured Area) farms and for the second consecutive year on Cattle and Sheep Lowland farms.
Dairy farms had an increase of 46% to £88,000 compared to 2021 while Cattle and Sheep LFA farms saw an increase of 29% to £38,600. Cattle and Sheep Lowland farms saw an increase of 16% to £26,500.
The release covers the year to 31st March 2022 and was during the Covid-19 pandemic and due to restrictions a slightly smaller sample of farms were able to be recorded. It also mostly excludes the Ukraine Crisis which began in the final week of February 2022. There are likely to be many impacts because of the war but the results are likely to be seen in next year’s release of the 2022-23 figures.
For more information visit: https://www.gov.wales/sites/default/files/statistics-and-research/2023-01/farm-incomes-april-2021-march-2022-673.pdf