REAL disposable farm income dropped by over 6 per cent in 1996, the Irish Farmers Association chief economist, Mr Con Lucey, claimed in a statement yesterday. Mr Lucey said the bottom line from the CSO agricultural output and income data published yesterday was that when account was taken of the value of extra stock on farms and inflation, disposable farm income in real terms has fallen.
The revised CSO data showed that the decline in cattle prices last year at an average drop of 14.6 per cent, was worse than earlier estimates and the volume of cereals output had been revised downward significantly. He added, however, that the direct payments figures had been revised upwards, which had helped to offset part of the lower output values.