A new report paints a bleak portrait for the future of farming in the UK, with many more farmers likely to be forced to quit farming as profits continue to plummet.
Go deeper with GlobalData
A survey of more than 180 accountants working in the agriculture sector shows profits down by a fifth in five years. A poll of 244 farmers working the largest farms in England and Wales shows 60% already trying to leave farming as it becomes financially unviable. With farms traditionally handed down through families, many children are balking at the prospect of taking on money-losing farms and seeking employment elsewhere.
According to a report in the Guardian, farm profits for September 2001 to April 2002 fell to an average of £50.58p per acre, compared with £52.61p the previous year.
Meanwhile, the Prince of Wales took the opportunity presented by the Stoneleigh Royal Show, which started this weekend, to speak out again in favour of organic farming and local sourcing, of which he has become a well-known champion.
Prince Charles called on supermarkets and farmers to work closely together to meet the demand for organic produce, some 70% of which is currently imported.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
