NFU guide - State of the Farming Economy

pound coin in landscape, farming business, countryside, web crop_47375

The NFU's economic intelligence team has produced a new State of the Farming Economy briefing for August 2018. 

This document provides a snapshot of the state of the farming economy including the current economic and farming situation in a post-Brexit economy. It also gives an insight into the medium to long-term prospects for the food and farming sector and why agriculture is important to the national economy.  

What's in the briefing?

  • Updated commodity price analysis and outlook
  • Weather events in 2018 and weaker pound push up the cost of key inputs 
  • Short-term outlook for EU agricultural markets in 2018 and 2019 
  • Farm borrowings reach record £18.9bn in June 
  • UK economic growth rebounds to 0.4% in Q2 
  • Bank of England raises interest rates to 0.75% 
  • Pound continues to fall as focus turns to ‘no deal’ Brexit
  • Agriculture’s contribution to the economy breaks the £10bn mark 
  • British Farming's key role in the Economy: picking the positives


Last edited on: 21:08:2018

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  • Posted by: Giles SturdyPosted on: 18/05/2017 15:16:00

    Comment: The most striking graph is the one showing the decline in the percentage of food consumed in UK and produced here, down from 78% in 1984 to 61% in 2015. To reverse this trend and improve the productivity of UK agriculture should surely be our first priority for a post Brexit agricultural policy. Balance of Payments considerations as well as food security should be the drivers. We were only 40% self sufficient in 1939. The post war agricultural policies sent UK agriculture forward. We have now lost much of that progress.

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