Irish farm incomes increased by 18% in 2007, according to a new Teagasc survey.

The figures for last year showed a growth in income from higher milk and cereal prices.

However, the earnings of beef and sheep farmers declined by around 7% to 10% during the same period.

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The National Farm Survey, conducted by Teagasc, says its research has suggested farming incomes will be subject to continued fluctuation over the next few years.

Previous studies reported a rise in 2005 incomes, with a subsequent fall in 2006, followed by growth in 2007.

Dairy and tillage continued to be the most profitable farm enterprises in 2007 with average farm incomes of €51,000 on dairy farms and over €40,000 on tillage farms.

(PR/JM)