Farm financial crisis gets worse

29 November 1999

Farm financial crisis gets worse

THE financial crisis in farming is worsening, according to government figures which will be officially published on Monday.

Incomes fell again this year in the wake of a 48% drop in1998 which wiped £900 million off farmers takings, according to statistics from the Ministry of Agriculture.

Farm incomes is expected to fall below £2bn this year, compared with £4.8bn in 1996, making it one of the worst performances in recent times.

Land agents in East Anglia are reporting that farmland prices have fallen by around £200 to £2400/acre (5900/ha).

But the value of farmland appears to be holding up, reports The Daily Telegraph.

Figures from the Royal Institution of Chartered Surveyors indicate a slight rise in land prices over the third quarter of this year.

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