First estimates of Agricultural income in 2017 Estimations on November 17, 2017

In 2017, the value of agricultural output, including subsidies, recovers itself, due to the growth of volume produced. Concerning crop production, the increase in volume is to a large extent balanced by the fall in prices. The cereals harvest picks up (+26.4% in volume) after the disastrous 2016 results. Conversely, the volume of wine sharply draws back again (–12.2%) due to adverse weather conditions. Concerning animal output, volumes keep on declining, but prices increase appreciably, in particular that of milk (+14.0%).
At the same time, farmers’ expenses go down for the fourth year in a row. This decline occurs as, at the same time, the production value increases. As a consequence, the agricultural added value strenghtens significantly. Besides, agricultural labour keeps declining as well. In total, according to the first estimates of the agriculture account, the gross added value at factor cost per worker would rise by 8.5% in 2017 and has been nearly stable over the past two years.