Sinn Féin candidate for East Derry, Caoimhe Archibald has said there is mixed news regarding Total Farm incomes for 2016 in the north.
The former Chair of the Agriculture, Environment & Rural Affairs committee said:
“There was mixed news for farmers in terms of income this year, the exchange rate had quite an impact in terms of the value of European Union subsidies coming in, value of produce being exported and also cost of feed stuffs and fertilisers being imported.
“The total income from farming (TIFF) is up 22% from 2015 which is positive in terms of year on year, however incomes in 2015 were at a six year low. A significant proportion of the increase was due to the EU subsidies being exchanged at a more favourable rate.
“Most striking however, is that the TIFF is still £32 million less than the value of direct EU subsidies received, which yet again highlights the disastrous impact Brexit will have on the agri-food sector.
“We’ve received no reassurances that the subsidies will be replaced to the same value and undoubtedly farmers are better off in the EU in terms of both subsidies and trade.”