Weaker Pound no salvation for farmers

04 August 1998

‘Weaker Pound no salvation for farmers’

AN agricultural banker believes that the impact of Sterling on agriculture is overstated.

Ian Stockley, the agricultural manager of Lloyds TSB, said that even a 10% fall in the Pound would not lead to an equivalent rise in farm gate prices. He said: “Farmers need to stop waiting for a revaluation to solve their problems, and look at the type of farming they are in and decide if they can make it more profitable.”

Mr Stockley urged farmers to look hard at their own future. The top 10% of producers in the UK are averaging 7,700 litres per cow, which is 22% more than the average. Herd sizes tend to be bigger, and, while concentrate use is higher, its is £2/ tonne less.

“If you cannot start ot move to the top 25%, perhaps you should look at an alternative use of resources.

• The Scotsman 04/08/98 page 26