1167: The economy and agriculture
This paper has been summarised from the Executive Summary of ‘Impacts of Changes in the Wider Economy on Agriculture and the Agri-Environment’, a report to Defra by The Andersons Centre.
Year of Publication2010
Changes in exchange rates have benefitted UK farming. Lower base rates have resulted in lower borrowing charges though some businesses have found accessing credit difficult. The general global slowdown has reduced input cost inflation. Within the food market consumers have “traded down” but except for organic this seems to have had little direct effect on producers. Trends towards paying premium prices for higher animal welfare have been robust. Property lets have often suffered. Staff recruitment had been easier for some. Longer term trends in the structure of the industry, land management, and environmental issues will continue.
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