The 2003 annual report of the Department of Agriculture and Food found that aggregate farm income rose by almost 5 per cent.
Commenting on the report, the Minister for Agriculture and Food, Mr Walsh, said average full-time farm income stood at €27,758, compared to an average industrial income of €27,900.
The report showed that public expenditure in support of the agri-food sector amounted to almost €2.8 billion. Total direct payments amounted to €1.6 billion, which included premiums to farmers, market supports, disease eradication and CAP rural development plan measures.
In a comment on the decline of BSE cases, Mr Walsh said it was very encouraging to see a 45 per cent fall in the number of cases.
Describing 2003 as a "watershed year in Irish agriculture", he said the highlight was the conclusion of the negotiations on the mid-term review of CAP. This secured CAP's future by making it more sustainable and relevant to modern society.