Profits in agriculture sector more than double

08-10-2012

Profits in Czech agriculture more than doubled from 7.6 billion crowns in 2010 to 17.1 in 2011, according to revised data from the Czech Statistical Office; the revised numbers are around 700 million crowns higher than the preliminary result made public at end of February. The earlier result was already a record high. The Czech agriculture sector has generated profits since 2004 when the Czech Republic joined the European Union, mainly thanks to EU subsidies. The value of production in agriculture expressed in current basic prices increased by almost 16 percent compared with 2010 to 118.9 billion crowns. Crop cultivation grew by more than 23 percent, while livestock production dropped by 6.2 percent.