UK Farmers Enjoy Boom Despite Weak Economy

21 May 2012 16:00 - Victoria Wedderburn

    



UK Farmers Enjoy Boom Despite Weak Economy

A report published by the National Farmersí Union (NFU) today says that Government figures show the agriculture and horticulture sector of the economy grew by 25%. The UK farming sector saw profits rise by 25% last year to £8.84 billion, up £1.75 billion. The increase was attributed to rising meat and grain prices. Farmers also say they are selling more produces overseas and farming now represents the UKís fourth largest exporting sector as exports of food in 2011 grew by 11%. Employment in the sector grew to 303,000 in 2011, up 3% from 2010. 

"With stocks depleted and demand from emerging markets rising all the time, supply and demand have been on a knife edge, with just small changes in supply prospects causing big swings in prices," the NFU said. They added, "Together, farming and food make up a precious oasis of growth and potential at a time when the economy generally is struggling," the report says. The NFU believe that the report highlights the valuable contribution British farmers make to the UK economy. Farming was one of the UKís most profitable industries last year.

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Related Links :
National Farmers' Union - The Voice of British Farming
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