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Farming optimism remains despite ongoing downturn

A survey by accountancy group MHA suggests there is still confidence in the industry, albeit down on last year.


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Succession remains a big issue for farmers.
Succession remains a big issue for farmers.

Farmers were continuing to eye expansion despite the current price malaise, an accountancy group has claimed.

 

The fourth in a series of agricultural surveys conducted by MHA, the UK-wide group of accountancy and business advisory firms, revealed there was optimism about the future, although it had dropped from last year.

 

The MHA Agriculture Insight Survey was conducted at Cereals 2015 in June and compares this year’s findings with those of 2014. The survey takes into account the views of more than 150 farmers nationwide.

 

Key findings include:

 

  • Despite falling prices, optimism for growth was high with 59 per cent of those who responded expecting growth, but this was 10 per cent less than last year.

 

  • Expansion is an aspiration for many, with 66 per cent planning to increase their acreage compared to 59 per cent in 2014.

 

  • 72 per cent of respondents were concerned about succession planning, which was an increase of 7 per cent over last year.
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