09 July 1999
Euro success is vital for farmers
THE success of the single currency is the key to the future of UK agriculture, according to the farm consultants ADAS.
Bill Hall, the firms head of economics, said the downside effects of Common Agricultural Policy reform would be offset if the Euro strengthened to its launch exchange rate of 71p.
He expected the reforms to reduce profitability on many farms – some £40 per hectare for cereal growers and £70 per cow.
The return to an exchange rate of 71p would add about £50 per hectare to cereal farm incomes and nearly £100 per cow to dairy profitability.
An ADAS survey of 7,000 farmers found that 30% were looking for income outside farming with up to one in four not making enough money to cover loans.
- The Herald 09/07/99 page 27