The National Farmers’ Union (NFU) has warned that the “modest gains” achieved by UK farmers in 2024 “come after years of unsustainable returns”.
Figures published by the Department for Environment, Food and Rural Affairs (Defra) showed that the total income from farming (TIFF) in the UK for 2024 was £7.7 billion, an increase of £1.6 billion (26.4%) from 2023.
Total livestock output in 2024 increased by £1.1 billion (5.6%) from 2023, to £20.1 billion, which Defra said was driven by increases in the values of eggs (35.2%), beef (9.3%) and milk (5.5%).
In the beef sector, the increase in value (£352 million) was reportedly due to “historically high prices” for deadweight prime cattle along with a 3.8% increase in home-fed beef production.
Since 2019, the average value of TIFF has been £6.4 billion, with the lowest value of £5.1 billion occurring in 2020, and the highest value of £8 billion occurring in 2022. TIFF in 2024 was the second highest in this period, in current prices, at £7.7 billion, which was an increase of 26.4% from 2023.
In 2024, total livestock output was £20,127 million, an increase of £1,074 million (5.6%) on 2023. The second largest contribution to the value of outputs and subsidies in 2024 was total crop output at £11,657 million, a decrease of £646 million (down 5.3%) on 2023.
The remaining incomes to farmers in 2024 were subsidies (£3,025 million), diversification (£1,952 million) and other agricultural activities (£1,646 million).
NFU says figures hide “significant volatility” seen across the sector
Responding to new figures published by Defra for the total from farming in 2024, NFU president Tom Bradshaw said: “The headline figure of an improvement to farm profitability is clearly welcome and a step forward, but it hides the significant volatility seen in recent years and the variable returns across different farming sectors.
“This data, showing the year-on-year changes in farming incomes, is shaped by a complex mix of markets, weather and 2023 having the highest input costs in decades because of the tragic situation in the Ukraine – and these figures once again show just how exposed farmers across the four countries of the UK are to these pressures.”
“While some sectors like beef and sheep have recovered slightly, it comes after years of unsustainable returns.”
Tom Bradshaw, NFU
Bradshaw continued: “Arable farmers have been hit particularly hard due to falling global prices and extreme weather, and while some sectors like beef and sheep have recovered slightly, it comes after years of unsustainable returns. Set against historically low incomes, these modest gains are a step forward, but they are fragile. Without consistent policy support and market stability they won’t last.
“It’s positive to see that input costs have fallen by 5% compared to last year. However, they are still far above where they were before the global geopolitical shocks we have seen in recent years.
“This is why the upcoming Spending Review is so important. Farmers need certainty to plan and invest, and a long-term UK agriculture budget of £5.6 billion would help underpin our nature-friendly food production and support rural communities.
“Farmers are resilient and adaptable, but they cannot shoulder all the risk on their own. This is a clear signal that Government must step up and put food security at the heart of its priorities.”
