UK: 2011 Farming Sector Profits Rose 25%

The UK’s farming sector saw its overall profit rise by 25% last year, according to the National Farmers Union (NFU). The NFU said farming’s overall profit was $13.73 billion in 2011, up $2.7 billion.

Rising prices for meat and grain on the international markets have helped to boost farmers’ income.

“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. The report highlights the contribution made by British farmers to the UK economy. “Together, farming and food make up a precious oasis of growth and potential at a time when the economy generally is struggling.”

Food exports grew by 11% last year, which makes food and drink the fourth largest export sector for the UK, according to the NFU.