In 2017 the level of income in Teagasc was similar to 2016 having increased substantially for the previous two years in a row.
Excluding the Net Deferred Funding for Pensions, income in 2017 was €187 million. There was an increase of €1.6 million in Grant in Aid compared to 2016. Knowledge Transfer income decreased by €1.8 million (7%); Research income increased by €1.4 million (5%); there was an increase of €0.9 million in livestock trading income and €0.6 million in other farm operations income.
Speaking at the publication of the Teagasc Annual Report and Financial Statements for 2017, Chairman of the Teagasc Authority, Dr Noel Cawley said: “Teagasc’s research, advisory and education activities continued to support the development of the agri food sector last year. 2017 was a generally a good year for farmers with average farm income, as measured by the Teagasc National farm Survey, increasing on the previous year. This was mostly driven by improvements in dairy farm income, while income on tillage farms also increased. Unfortunately this has been followed in 2018 with all farming sectors facing weather related difficulties in the spring and again in the summer.”
Teagasc Director, Professor Gerry Boyle said: “The expansion of the Irish dairy industry over the last three years has been of significant financial benefit to Irish family farms, the wider rural economy and the national economy.”
A copy of the Teagasc Annual Report and Financial Statement for 2017 is available on www.teagasc.ie