The NFU's economic intelligence team has published its State of the Farming Economy briefing for June 2020.
The document provides a snapshot of the current economic situation and an insight into the medium-term prospects for the food and farming sector and why agriculture is important to the national economy.
What's in the briefing?
This edition includes commentary on how COVID-19 is starting to effect agriculture and the wider economy.
- Updated commodity price analysis and outlook
- The UK economy contracted by a record margin in April
- Interest rates remain at an all-time low
- Inflation at lowest level since June 2016
- 9.1 million workers having their wages paid through the government's furlough scheme
- UK self-sufficiency at 64% in 2019
- Consumer expenditure on food, drink and catering increased by 2.7% in 2019 to £234 billion
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