image expired

Alick Jones, Lloyds Bank Agriculture Policy director, said above-average wheat yields across England this summer gave good foundations for farmers to plan for the coming year.

Speaking as the NFU released figures showing members' overall wheat yield was up 16 per cent on 2012 at 7.8 tonnes per hectare, Mr Jones said the good results would start to help farm cash reserves recover following two difficult years.

"The good results are welcome, although we are still aware that plantings were down 19 per cent on last year. Good yields though will help to give a strong footing for the coming year, as will the better planting conditions this season," he said.

"Farmers now need to build on that by continuing to look at their management techniques and attention to detail across their business to ensure their prospects remain as buoyant as they can be."

Working to ensure production costs were covered and cashflow was available for the coming year would help draw a line under 2012‘s difficult harvest and prepare them for a strong future, he added.

"It is still important to plan ahead so that farm businesses are as well-placed to take advantage of any opportunities as they are to manage any of the variables next year could throw at them," he said.

"At Lloyds Bank we understand agriculture and recognise that the long-term outlook for the sector continues to look strong.

"We are here to continue to support the industry and help British farmers prosper."


NFU 2013 Harvest Survey results (England only):
 
•    Yields are up 1% on 5 year average (England 2008-2012 –Defra), from 7.7 to 7.8 tonnes per hectare.
•    Area is down 17% on 5 year average (England 2008-2012 –Defra), from 1.81 million hectares to 1.51 million hectares.
•    Yields are up 16% on last year (England 2012 –Defra), from 6.7 to 7.8 tonnes per hectare.
•    Area is down 19% on last year (England 2012 –Defra), from 1.86 million hectares to 1.51 million hectares.
•    Defra will release its UK-wide results on October 17.