27 November 1998
Bank paints a rosy farming picture

THE head of agricultural services at Barclays Bank is taking an optimistic view on prospects for the farming industry.

John Page sees profits on a rising curve – net industry profit will be £1.7 billion this year, rising to £1.9bn next, and £2.35bn in 2000, he says.

He forecasts that lower cereals planting in north America and Europe will see the 1999 harvest come in short of consumption leading to higher prices.

He said farm incomes will show an improvement of about 12% in 1999.