Agricultural Income in 2012 - First Forecasts

The agricultural year 2012 is marked by the abundance of the harvest of grain and a strong increase in their prices. Volumes of other crops and livestock are reduced, their prices are recovering, with the exception of milk prices. Total value of agricultural production, including subsidies, increased by 5% compared to 2011. Meanwhile, charges farmers increase again due to the soaring prices of diesel and animal feed. As in 2011, the result of the agricultural industry would progress globally. Agricultural employment also continues to decline. According to provisional estimates account of agriculture, agricultural factor income (or net value added at factor cost) per labour unit increases by 4% in real terms in 2012 and reaches a higher level than previous peaks. This was due to large individual differences.