NFU guide: State of the Farming Economy

Published 04 October 2021

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

Get the latest State of the Farming Economy briefing from the NFU's economic intelligence team.

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?

Key headlines in this edition include:

  • Updated commodity price analysis and outlook
  • Inflation rose to 3.2% in the 12 months to August
  • The three months to July 2021 showed a continuing recovery in the labour market
  • Government borrowing was higher than expected in August
  • Farming input costs have seen an overall increase of 13% in the year to July
  • National Living Wage and National Minimum Wage rates effective from 1 April 2021
  • Total Income from Farming in 2020 is estimated to be £4.12 billion, a fall of £768 million (-15.7%) from 2019.            

Read the latest State of the Farming Economy briefing here (NFU members only – you’ll need to log in).

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