Accredited official statistics

Farm Business Income by type of farm in England 2023/24

Updated 14 November 2024

Applies to England

Data on Farm Business Income are used to monitor and evaluate Government policies and to inform wider research into the economic performance, productivity and competitiveness of the agricultural industry. The data are also widely used by the industry for benchmarking.

This release provides survey results of Farm Business Income, covering the 2023 harvest and including the 2023 Basic Payment (as this contributes to Farm Business Income). The survey period is March 2023 to the end of February 2024. These results replace the forecast estimates published on 14 March 2024. The data contributing to this report can be found on the main release page.

In simple terms, Farm Business Income is the output generated by the farm business minus total farm costs. For the full definition of Farm Business Income see 6.4 of the (Technical note).

Key results

• In 2023/24, average Farm Business Income was lower for all farm types except for specialist pig farms and specialist poultry farms. The fall in income followed exceptional highs for some farm types in 2022/23.

• For cereal farms, following two years of exceptional highs, Farm Business Income fell by 73% to £39,400. For general cropping farms average income was 24% lower at £95,300. A combination of lower output prices and yields were a key factor for both farm types.

• On dairy farms, following two very strong years for the sector, average Farm Business Income was 68% lower at £70,900 with a fall in the farmgate price of milk the primary driver.

• On lowland grazing livestock farms, average Farm Business Income fell by nearly a quarter to £17,300 driven by lower output from crop and sheep enterprises. For grazing livestock farms in Less Favoured Areas higher fixed costs were only partially offset by an increase in output, at £23,500 average income was 12% lower than 2022/23.

• Average Farm Business Income increased to £135,800 for specialist pig farms reflecting higher prices and throughput. On specialist poultry farms Farm Business Income rose by nearly a quarter to £143,600 with higher output from egg enterprises the main driver.

• The progressive reduction to the Basic Payment was introduced in 2021. In 2023/24 across all farms types the average net payment received was approximately £18,300. This was 21% lower than 2022/23 and accounted for around 40% of Farm Business Income.

• Across all farm types, net income from agri-environment activities increased by an average of 14% to £10,600.

Points which apply throughout

1. The Farm Business Survey is the source for all data presented in tables and charts unless otherwise stated.

2. All figures relate to England, unless otherwise stated and, on average, cover a March to February fiscal year, with the most recent year shown ending in February 2024. Fiscal years are shown in YYYY/YY format, for example, the period of 1 March 2023 to 29 February 2024 is shown as 2023/24. To ensure consistency in harvest/crop year and commonality of subsidies within any one Farm Business Survey year, only farms which have accounting years ending between 31 December and 30 April are included in the survey. Aggregate results are presented in terms of an accounting year ending on the last day of February, which is the approximate average of all farms in the Farm Business Survey.

3. All financial figures have been rounded to the nearest £100. All percentages have been rounded to the nearest 1% and have been calculated using the unrounded data.

4. The acronym ‘LFA’ refers to Less Favoured Area. These areas were established in 1975 to provide support to mountainous and hill farming areas. They are areas where the natural characteristics (geology, altitude, climate, short growing season, low soil fertility, or remoteness) make it difficult for farmers to compete.

5. Where dataset tables are referred to in the text, this refers to the ‘Farm Business Income in England, 2023/24 - dataset’ file, which can be found on the publication landing page.

1 Farm Business Income by farm type

Figures 1.1 and 1.2 show average Farm Business Income compared to 2020/21 (the start of agricultural transition) in real terms. A full time series is available in the dataset, shown in both current prices and real terms.

Figure 1.1 Average Farm Business Income (£ per farm) for cropping farms by farm type in England, 2020/21 to 2023/24

Source: Dataset table 1

Figure notes:
1. The legend is presented in the same order as the bars.
2. 95% Confidence Intervals have been presented to show the range where the true value is likely to lie and provides an indication of the degree of uncertainty of the estimate; see section 6.2 for more detail.
3. There is a break in the series in 2022/23, this represents changes in the method used to assign farms to a specific farm type. For simplicity, this is not shown here but is presented in the individual farm type charts and the dataset.

Figure 1.2 Average Farm Business Income (£ per farm) for livestock farms by farm type in England, 2020/21 to 2023/24

Source: Dataset table 1

Figure notes:
1. The legend is presented in the same order as the bars.
2. 95% Confidence Intervals have been presented to show the range where the true value is likely to lie and provides an indication of the degree of uncertainty of the estimate; see section 6.2 for more detail.
3. There is a break in the series in 2022/23, this represents changes in the method used to assign farms to a specific farm type. For simplicity, this is not shown here but is presented in the individual farm type charts and the dataset.

1.1 Cereal Farms

Figure 1.3 Average Farm Business Income (£ per farm) for cereal farms in England, 2014/15 to 2023/24

Source: Dataset table 1

Figure notes:
1. The breaks in the series shown in 2017/18 and 2022/23 represent changes in the method used to assign farms to a specific farm type. Where breaks occur, average income has been calculated using both methods for comparability.
2. 95% Confidence Intervals have been presented to show the range where the true value is likely to lie and provides an indication of the degree of uncertainty of the estimate; see section 6.2 for more detail.

Average Farm Business Income for cereal farms fell by almost three quarters in 2023/24 to £39,400 (Figure 1.1 or Figure 1.3 for a comparison to all farms over time). The decrease, which follows two years of exceptional highs for this type of farm, was largely driven by a fall in crop output of 19%, coupled with higher input costs. Output from wheat fell by just under a quarter. Although smaller yields and crop area were contributing factors, the key driver was a drop in average prices which, with adaptation to the situation in Ukraine, returned to levels close to those seen in 2021/22. Output from barley and oilseed rape also fell, driven by reductions to both yields and average prices. Variable costs were 27% higher, with the greatest increases for fertilisers and crop protection which rose by 44% and 22% respectively. Fixed costs also increased, most notably for machinery (depreciation and running costs) and general farming costs. Overall, cereal farms failed to make a positive return on their agricultural activities in 2023/24 with an average loss of £26,400 (Figure 3.1). The average Basic Payment was £26,100, while income from agri-environment activities rose by 18% to £13,200. The net contribution of diversified activities was £26,500, which was a 4% increase on 2022/23.

1.2 General Cropping Farms

Figure 1.4 Average Farm Business Income (£ per farm) for General Cropping farms in England, 2014/15 to 2023/24

Source: Dataset table 1

Figure notes:
1. The breaks in the series shown in 2017/18 and 2022/23 represent changes in the method used to assign farms to a specific farm type. Where breaks occur, average income has been calculated using both methods for comparability.
2. 95% Confidence Intervals have been presented to show the range where the true value is likely to lie and provides an indication of the degree of uncertainty of the estimate; see section 6.2 for more detail.

In 2023/24, average Farm Business Income on general cropping farms fell by almost a quarter to £95,300 (Figure 1.1 or Figure 1.4 for a comparison to all farms over time). Output from agriculture fell by 7%. As with cereal farms, lower output from cereals and oilseed rape was a key factor, but on general cropping farms this was partially offset by increases for potatoes and sugar beet. Output from potatoes rose by 59% reflecting substantially higher prices which increased by an average of 40% per tonne. Sugar beet output was 61% higher than 2022/23 (when the crop was impacted by drought), supported by higher prices and yields. At the same time, in contrast to cereal farms, input costs fell. Variable costs were 4% lower with seed, crop protection and (for general cropping farms with livestock) livestock specific costs seeing the biggest reductions. Fixed costs were 2% lower. The Basic Payment fell by 29% in 2023/24 (the third year of the progressive reductions to the payment). On a per hectare basis, the average Basic Payment was 22% lower than 2022/23. Income from agri-environment activities decreased by 8% while income from diversification rose by 5%; higher revenue from building rental, renewable energy and other diversified activities helped offset falls in output from tourism and food processing and retailing.

1.3 Dairy Farms

Figure 1.5 Average Farm Business Income (£ per farm) for Dairy farms in England, 2014/15 to 2023/24

Source: Dataset table 1

Figure notes:
1. The breaks in the series shown in 2017/18 and 2022/23 represent changes in the method used to assign farms to a specific farm type. Where breaks occur, average income has been calculated using both methods for comparability.
2. 95% Confidence Intervals have been presented to show the range where the true value is likely to lie and provides an indication of the degree of uncertainty of the estimate; see section 6.2 for more detail.

On dairy farms, average Farm Business Income fell by 68% to £70,900 in 2023/24 (Figure 1.2 or Figure 1.5 for a comparison to all farms over time) following two exceptional years. This was primarily due to a substantial drop in output from milk and milk products. This fell by 12% as a result of lower farmgate prices (which began to fall in early 2023 as markets readjusted after the volatility of 2022) rather than a decrease in the overall volume of milk or number of dairy animals. It is important to note the wide variation in milk prices with some farmers receiving considerably more or less than the average. Crop output fell by 27% with lower wheat and barley output accounting for most of the decrease. Variable and fixed costs rose by 3% and 11% respectively, most notably for general farming costs, livestock specific costs, electricity and casual labour. Overall, the net contribution of agricultural activities to Farm Business Income fell from the exceptionally high level of £182,100 in 2022/23 to £34,700 in 2023/24. Average income from diversified activities fell by nearly a quarter to £10,400, the result of lower output from food process and retailing and rental income. For dairy farms, the average Basic Payment was £17,700 while agri-environment payments were £8,200, an increase of 14% compared to 2022/23.

1.4 Lowland Grazing Livestock Farms

Figure 1.6 Average Farm Business Income (£ per farm) for Lowland Grazing Livestock farms in England, 2014/15 to 2023/24

Source: Dataset table 1

Figure notes:
1. The breaks in the series shown in 2017/18 and 2022/23 represent changes in the method used to assign farms to a specific farm type. Where breaks occur, average income has been calculated using both methods for comparability.
2. 95% Confidence Intervals have been presented to show the range where the true value is likely to lie and provides an indication of the degree of uncertainty of the estimate; see section 6.2 for more detail.

On lowland grazing livestock farms average Farm Business Income fell by 24% in 2023/24 to £17,300 (Figure 1.2 or or Figure 1.6 for a comparison to all farms over time). Agricultural input costs fell by 5%; variable costs were 9% lower driven by falls for animal feed and general farming costs, while fixed costs decreased by 1%. However, these cost reductions were not enough to offset a drop in output from crops of 23% and sheep of 13%. As with arable farms, lower wheat output was the main factor influencing the fall in crop output. For sheep enterprises, while market prices for finished and store lambs remained strong, there was a decrease in both the revenue and closing valuation for sheep, reflecting fewer animals sold and lower stocking rates. Output from cattle enterprises which typically make up the largest proportion of livestock output on this type of farm fell by 2%. As in 2022/23, lowland grazing livestock farms failed to make a positive return on their agricultural activities with the average loss increasing to £11,200. The average Basic Payment fell by a quarter compared to 2022/23 to £10,700 while agri-environment payments increased by 22% to £8,200 (Figure 3.1).

1.5 LFA Grazing Livestock Farms

Figure 1.7 Average Farm Business Income (£ per farm) for LFA Grazing Livestock farms in England, 2014/15 to 2023/24

Source: Dataset table 1

Figure notes:
1. The breaks in the series shown in 2017/18 and 2022/23 represent changes in the method used to assign farms to a specific farm type. Where breaks occur, average income has been calculated using both methods for comparability.
2. 95% Confidence Intervals have been presented to show the range where the true value is likely to lie and provides an indication of the degree of uncertainty of the estimate; see section 6.2 for more detail.

In 2023/24, the average Farm Business income on LFA grazing livestock farms fell by 12% to £23,500 (Figures 1.2 and 1.7 for a comparison to all farms over time) with higher fixed costs more than offsetting an increase in agricultural output. Fixed costs rose by 9%, most notably for general farming costs and net interest payments which rose by 29% and 67% respectively. Agricultural output also rose, but to a lesser degree than costs. Output from sheep enterprises was 3% higher, supported by firm prices, while cattle output was virtually unchanged compared to 2022/23. Combined these were more than enough to offset a drop in crop output of 4%. The average Basic Payment fell by 18% to £17,100 and agri-environment payments (often an important income stream for LFA farms) rose by 5% to £14,700. A more substantial increase was seen in the return on diversified activities which rose by 75% (£2,400), largely driven by income from building rental and recreation activities.

1.6 Specialist Pig Farms

Caution
The Farm Business Survey sample for specialist pig farms is relatively small, meaning that individual farms can have a large influence on the results and the results should be treated with caution.

Figure 1.8 Average Farm Business Income (£ per farm) for Pig farms in England, 2014/15 to 2023/24

Source: Dataset table 1

Figure notes:
1. The breaks in the series shown in 2017/18 and 2022/23 represent changes in the method used to assign farms to a specific farm type. Where breaks occur, average income has been calculated using both methods for comparability.
2. 95% Confidence Intervals have been presented to show the range where the true value is likely to lie and provides an indication of the degree of uncertainty of the estimate; see section 6.2 for more detail.

Average Farm Business Income for specialist pig farms rose by 87% in 2023/24 to £135,800 (Figure 1.2 or Figure 1.8 for a comparison to all farms over time), primarily due to a substantial rise in output from pig enterprises which more than offset higher input costs. Pig output increased by 25% reflecting higher throughput and prices for both store and finished pigs. In contrast to other farm types, for those pig farms growing crops, output rose with an increased average area of wheat and barley offsetting lower prices and yields. Agricultural variable costs were 8% higher with animal feed and other livestock costs contributing most to the increase. Fixed costs rose by a 21%, most notably for labour, general farming costs and electricity. Revenue from diversification rose 59% to £71,800, another factor contributing to the higher overall Farm Business Income. Food processing / retailing, other diversified activities and renewable energy were the main drivers. Average agri-environment payments also rose in 2023/24, more than doubling to £7,900.

Note that these changes should be treated with caution because of the small sample size and the wide confidence intervals. Contract rearers are also well represented in the FBS sample. Business models for contract rearing operations are varied and these types of farms may not be impacted by price variations to the same extent as non contract rearing farms.

1.7 Specialist Poultry Farms

Caution
The Farm Business Survey sample of specialist poultry farms is relatively small, meaning that individual farms can have a large influence on the results, and the results should be treated with caution.

Figure 1.9 Average Farm Business Income (£ per farm) for Poultry farms in England, 2014/15 to 2023/24

Source: Dataset table 1

Figure notes:
1. The breaks in the series shown in 2017/18 and 2022/23 represent changes in the method used to assign farms to a specific farm type. Where breaks occur, average income has been calculated using both methods for comparability.
2. 95% Confidence Intervals have been presented to show the range where the true value is likely to lie and provides an indication of the degree of uncertainty of the estimate; see section 6.2 for more detail.

Compared to 2022/23, the average Farm Business Income for specialist poultry farms rose by nearly a quarter to £143,600 (Figure 1.2 or Figure 1.9 for a comparison to all farms over time). Despite a fall in output from broilers enterprises of 15% (slightly higher prices were more than offset by a fall in throughput), livestock output overall rose by 2%, driven by an increase in output from eggs of 33% which reflected both higher prices and volume produced. Fixed costs were higher (notably land and property costs, depreciation of buildings and net interest payments) but this increase was almost entirely cancelled out by a fall in variable costs of 6%, meaning that total costs overall were unchanged compared to 2022/23. Whilst accounting for a relatively small proportion of Farm Business Income on this type of farm, agri-environment payments nearly doubled in 2023/24 to £7,200. Income from diversification fell by 19%, this reflected an increase in fixed costs related diversified activities and falls in output for some enterprises, notably renewable energy and other diversified activities.

Note that these changes for specialist poultry farms should be treated with caution because of the small sample size and the range of enterprises covered by this farm type. For example, there are farms producing broilers, turkeys, ducks and geese and for laying flocks the systems cover organic and conventional free range enterprises as well as enriched cages.

1.8 Mixed Farms

Figure 1.10 Average Farm Business Income (£ per farm) for Mixed farms in England, 2014/15 to 2023/24

Source: Dataset table 1

Figure notes:
1. The breaks in the series shown in 2017/18 and 2022/23 represent changes in the method used to assign farms to a specific farm type. Where breaks occur, average income has been calculated using both methods for comparability.
2. 95% Confidence Intervals have been presented to show the range where the true value is likely to lie and provides an indication of the degree of uncertainty of the estimate; see section 6.2 for more detail.

Average Farm Business Income for mixed farms fell by just over two thirds to £22,700 in 2023/24 (Figure 1.1 or or Figure 1.10 for a comparison to all farms over time). Agricultural output was 8% lower with a fall in crop output of 10% accounting for the majority of the decrease; although output from potatoes more than doubled compared to 2022/23, this was not enough to offset falls for wheat and barley enterprises. Similarly, despite higher revenue from sheep and cattle enterprises, livestock output overall was 6% lower. A fall in variable costs was more than cancelled out by higher fixed costs (general farming, net interest payments and labour costs), which rose by 18%. These factors combined meant that the net contribution of agricultural activities to Farm Business Income fell to minus £32,900. Income from the diversification cost centre was £22,500 (an increase of 23% compared to 2022/23) with tourism and building rental the main drivers. Agri-environment payments rose by 21% to £11,500 while the Basic Payment was £21,600. This equated to a reduction of 20% when calculated on a per hectare basis.

1.9 Horticulture Farms

Caution
The Farm Business Survey sample for horticulture farms is relatively small, meaning that individual farms can have a large influence on the results, and the results should be treated with caution.

Figure 1.11 Average Farm Business Income (£ per farm) for Horticulture farms in England, 2014/15 to 2023/24

Source: Dataset table 1

Figure notes:
1. The breaks in the series shown in 2017/18 and 2022/23 represent changes in the method used to assign farms to a specific farm type. Where breaks occur, average income has been calculated using both methods for comparability.
2. 95% Confidence Intervals have been presented to show the range where the true value is likely to lie and provides an indication of the degree of uncertainty of the estimate; see section 6.2 for more detail.

For horticulture farms, average Farm Business Income fell by 38% between 2022/23 and 2023/24 to £59,100. There were falls in net income across all cost centres (agriculture, agri-environment, the Basic Payment and diversification) but reduced income from diversified activities, often an important source of revenue for this type of farm, had the biggest impact. Lower output from building rental, renewable energy and other diversified activities contributed to a 67% fall in income from diversification which was £14,600 in 2023/24 compared to £43,500 in 2022/23. Even though agricultural costs fell by 25%, this was not enough to mitigate a much bigger fall in output: with the exception of top fruit, output fell for most key horticultural enterprises, most notably for outdoor flowers, bulbs and nursery stock. Agri-environment payments fell by 31% to £2,600 (Figure 3.1), while the Basic Payment was 48% lower than 2022/23 at £1,700 (this equated to a 9% decrease when calculated on a per hectare basis).

2 Distribution of Farm Business Income

Figure 2.1 Distribution of Farm Business Income by farm type in England, 2023/24

Source: Dataset table 4

Figure notes:
1. The legend is presented in the same order as the bars.
2. Due to small sample sizes, some categories have been merged for specialist pig farms; the categories are ‘Less than £0k to £49.9k’, ‘£50 to £99.9k’ and ‘£100k and over’.
3. Due to small sample sizes, some categories have been merged for horticulture farms; the categories are ‘Less than £0k’, ‘£0 to £49.9k’, ‘£50 to £99.9k’ and ‘£100k and over’.
4. Where the value is less than 5%, the label is not shown on the chart.
5. The sample sizes for specialist pig and poultry farms are relatively small with average incomes subject to greater variation.

The average values mask the considerable variability in incomes at the farm level, both between and within farm types (Figure 2.1). In 2023/24, 30% of farms failed to make a profit (compared to 17% of farms in 2022/23). However, the proportion was higher for some types, such as cereals, lowland grazing livestock, mixed and horticulture. At 52% of farms, specialist pigs and specialist poultry had the largest proportion of farms with an income of more than £100,000, while grazing livestock farms (both lowland and LFA) had the lowest proportion. The variation in incomes within farm type reflects different production costs between farms, which are influenced by a number of factors such as size, location, soil type etc.

More detailed analysis of farm incomes based on farm performance is provided in Farm Accounts in England. This will be updated with 2023/24 data on 19 December 2024 and published on the GOV.UK website.

3 Farm Business Income by Cost Centre

Figure 3.1 Cost Centre breakdown for Farm Business Income by farm type, 2023/24.

Source: Dataset table 5

Figure notes:
1. The legend is presented in the same order as the bars (read the top row from left to right, then the bottom row from left to right), except for cereal, lowland grazing livestock, LFA grazing livestock, mixed farms, and the all farm average, where the values for the agriculture cost centre are negative.
2. The data shown are the averages across all farms in the sample, including those that do not have any income within some of the cost centres.
3. The sample sizes for specialist pig and poultry farms are relatively small with average incomes subject to greater variation.

Farm Business Income can be broken down by cost centre (Figure 3.1) to illustrate the relative contribution to average total Farm Business Income (shown by the marker on each column).

Of the four cost centres, income from agricultural activities made the biggest contribution to overall Farm Business Income for general cropping, dairy, poultry and horticulture farms. On average, cereal, grazing livestock (both lowland and LFA) and mixed farms failed to generated a positive return on their farming activities in 2023/24. For cereal, pig and mixed farms income from diversification activities contributed most to Farm Business Income, while for grazing livestock farms it was the Basic Payment.

The progressive reduction to the Basic Payment was introduced in 2021 and the data presented here relates to the third year of reductions. The scale of change to the payment varied by farm type, but across all farms the average net payment received was approximately £18,300. This was 21% lower than 2022/23 and, for all farms, the payment accounted for around 40% Farm Business Income. Again at the all farm level, income from the agri-environment cost centre increased by an average of 14% to £10,600

4 Revisions

Forecasts of Farm Business Income for 2023/24 were published in March 2024. These forecasts were based on information available in early February 2024 for prices, animal populations, marketings, crop areas, yields and input costs and were intended as a broad indication of how incomes for each farm type were expected to move compared with 2022/23.

The outturns published here are based on actual survey results from the Farm Business Survey 2023/24. All forecasts except for specialist pig farms were within the confidence limits of the survey outturns. The average income for pig farms was higher than forecast due to an underestimation of output from both crops and livestock.

No forecasts were produced for specialist poultry farms in 2023/24 as these are subject to a considerable degree of uncertainty, reflecting both the structure of these sectors and the relatively small sample of these farms in the Farm Business Survey. These factors meant it was not possible to produce robust forecast estimates. Forecasts are not produced for horticulture farms.

Table 4.1 Revisions to average Farm Business Income per farm (£/farm) by Type of Farm in England from forecast at current prices.

Farm type	Forecast: March 2024	Outturn: November 2024	Lower confidence limit	Upper confidence limit	Change
Cereals	£34,000	£39,400	£26,600	£52,100	£5,400
General Cropping	£53,000	£95,300	£71,600	£119,100	£42,300
Dairy	£50,000	£70,900	£47,400	£94,400	£20,900
Grazing Livestock (Lowland)	£23,000	£17,300	£12,900	£21,700	-£5,700
Grazing Livestock (LFA)	£26,000	£23,500	£15,600	£31,400	-£2,500
Specialist Pigs	£91,000	£135,800	£91,300	£180,200	£44,800
Mixed	£37,000	£22,700	£9,400	£35,900	-£14,300

Table notes:
1. Forecasts are rounded to the nearest £1,000 and all other figures are rounded to the nearest £100.
2. Confidence limits give an indication of the degree of uncertainty around an estimate. The lower and upper limits show the possible range around the published averages.

5 What you need to know about this release

5.1 Contact details

Responsible statistician: Alison Wray

Public enquiries: [email protected]

For media queries between 9am and 6pm on weekdays:

Telephone: 0330 041 6560

Email: [email protected]

5.2 National Statistics Status

Accredited official statistics are called National Statistics in the Statistics and Registration Service Act 2007. An explanation can be found on the Office for Statistics Regulation website. Our statistical practice is regulated by the Office for Statistics Regulation (OSR). OSR sets the standards of trustworthiness, quality and value in the Code of Practice for Statistics that all producers of official statistics should adhere to.

These accredited official statistics were independently reviewed by the Office for Statistics Regulation in January 2014. They comply with the standards of trustworthiness, quality and value in the Code of Practice for Statistics and should be labelled ‘accredited official statistics’.

You are welcome to contact us directly with any comments about how we meet these standards (see contact details above). Alternatively, you can contact OSR by emailing [email protected] or via the OSR website.

Since the latest review by the Office for Statistics Regulation, we have continued to comply with the Code of Practice for Statistics, and have made the following improvements:

• Reviewed and improved data presentation to better meet accessibility guidelines

• Automated production of the statistics using Reproducible Analytical Pipelines (RAP)

• Reviewed and improved accompanying commentary.

5.3 User engagement

As part of our ongoing commitment to compliance with the Code of Practice for Official Statistics we wish to strengthen our engagement with users of these statistics and better understand the use made of them and the types of decisions that they inform.

We invite users to make contact to advise us of the use they do, or might, make of these statistics, and what their wishes are in terms of engagement. Feedback on this statistical release and enquiries about these statistics are also welcome.

A potential change to the survey timetable and publication dates for the 25/26 survey is being considered. This is due to HMRC changes to the tax year, these have data collection implications. We also welcome feedback on this.

5.4 Survey content, methodology and data uses

The Farm Business Survey is an annual survey providing information on the financial position, physical characteristics, and economic performance of farm businesses in England. The sample of farm businesses covers all regions of England and all types of farming.

Data for the Farm Business Survey are collected through face-to-face interviews with farmers, conducted by highly trained research officers.

The data are widely used by the industry for benchmarking and inform wider research into the economic performance of the agricultural industry, as well as for evaluating and monitoring current policies. The data will also help to monitor farm businesses throughout the Agricultural Transition period.

5.5 Availability of results

All Defra statistical notices can be viewed on the Statistics at Defra page.

More publications and results from the Farm Business Survey are available on the Farm Business Survey Collection page.

6 Technical note

6.1 Survey coverage and weighting

The Farm Business Survey only includes farm businesses with a Standard Output of at least 25 thousand Euros, based on activity recorded in the previous June Survey of Agriculture and Horticulture. In 2023/24, the sample of 1,350 farms represented approximately 51,300 farm businesses in England.

Initial weights are applied to the Farm Business Survey records based on the inverse sampling fraction for each design stratum (farm type and farm size). Dataset table 17 of the Farm Accounts in England publication will show the distribution of the sample compared with the distribution of businesses from the 2023 June Survey of Agriculture. These initial weights are then adjusted, using calibration weighting, so that they can produce unbiased estimates of a number of different target variables. More detailed information about the Farm Business Survey can be found on the technical notes and guidance page. This includes information on the data collected, information on calibration weighting and definitions used within the Farm Business Survey.

6.2 Accuracy and reliability of the results

As it is impractical to survey the entire population of farms, estimates derived from the Farm Business Survey data are inherently subject to sampling error. This is a core principle in statistical survey methodology, which aims to infer population parameters by obtaining a representative sample through carefully designed sampling techniques. To quantify sampling error and provide a measure of uncertainty, this publication presents 95% confidence intervals for estimated means. These intervals, shown as error bars in bar plots, indicate the range within which we expect the true population mean to lie for 95% of similarly constructed samples. Narrower confidence intervals typically indicate larger sample sizes or less variability within the sample, thereby offering more precise estimates of the population mean. Conversely, wider confidence intervals often result from smaller sample sizes or greater sample standard deviations, signalling less precision. These wider intervals should be interpreted with greater caution. Statistically, a confidence interval provides a plausible range for the true population mean based on the sample data. Specifically, a 95% confidence interval reflects a process that, under repeated sampling, would contain the true population mean in 95% of such intervals, rather than indicating a 95% probability for any single interval to include the population mean.

6.3 Farm type classification

From 2023/24, the classification of farms is based on 2017 standard output coefficients. The 2022/23 results have been recalculated and presented in this release to allow comparability between 2022/23 and 2023/24. The results published here are therefore not directly comparable with those published in earlier years, which are based on previous standard output coefficients. More details on the impact of the change can be found on the Changes to Farm Typology: Use of 2017 Standard Output Coefficients page.

6.4 Farm Business Income

For non-corporate businesses, Farm Business Income represents the financial return to all unpaid labour (farmers and spouses, non-principal partners and their spouses and family workers) and on all their capital invested in the farm business, including land and buildings. For corporate businesses it represents the financial return on the shareholders capital invested in the farm business.

In essence Farm Business Income is the same as Net Profit, which as a standard financial accounting measure of income is used widely within and outside agriculture. Using the term Farm Business Income rather than Net Profit, gives an indication of the measure’s farm management accounting rather than financial accounting origins, accurately describes its composition and is intuitively recognisable to users as a measure of farm income.