DEFRA: Farm Incomes Have Climbed By 25%

Whilst the latest statistics from DEFRA appear encouraging, the news should be treated with extreme caution as these are merely initial estimates and don’t take into consideration the government’s adjustments.

We would agree that the estimated rise in Total Income From Farming (TIFF) can be largely attributed to the low euro exchange rate and, moving into 2010, we are confident that this will continue to have a positive influence on future Single Farm Payments and livestock returns.

However, the statistics mask the current poor returns for arable and dairy industries and there are further underlying trends, with year-on-year decreases in stock numbers and the increasing uptake of Environmental Stewardship, particularly on upland farms.

We maintain a cautious approach into the new year and look forward to seeing DEFRA’s final results in January, when we expect to see the actual TIFF forecast fall.

Andrew FallowsMRICS, FAAV

Partner

Andrew is based in York heading the Rural Team and being responsible for The Crown Estate's Yorkshire rural estates. He is also a leading Agent and Valuer for the Agricultural Mortgage Corporation...

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Andrew is based in York heading the Rural Team and being responsible for The Crown Estate's Yorkshire rural estates. He is also a leading Agent and Valuer for the Agricultural Mortgage Corporation (AMC) providing advice on farm finance throughout Yorkshire. He has wide experience in the sales and purchases of all types of rural property ranging from large landed estates to small pony paddocks, and handles all property auctions within the region. He also provides valuations for lending purposes and dispute resolution.  Andrew enjoys walking his two English Setters, playing golf and cricket, country sports, skiing and has just taken up scuba diving.

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