We respond to the latest Bank of Scotland report that shows while prosperity in the Scottish farming sector is down, optimism for the future is high.
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CEO of Pagan Osborne, wrote:
The latest Bank of Scotland agricultural report reinforces the issues faced by our farming communities.
Firstly, it points out that the last two years have been particularly difficult due, in part, to bad weather, a rise in tenant farmer rents and a drop in livestock prices.
However, a degree of positivity can be taken from the report as it shows that despite the challenges faced, confidence is high.
The importance of confidence cannot be emphasised enough.
Fife farmers contribute enormously to the local economy and know that they need to look to the long-term. It is a tough job and profitability doesn’t happen overnight, but with the right focus, business confidence and investment in machinery, livestock and land, a farmer can ensure a healthy financial future.
I also welcome the report’s findings that the percentage of farms which are profitable remains high. Although down on last year, the fact that there is still money to be made in farming is a good sign in the current economic climate and in some ways shows that agriculture bucks the trend of other industries.
Farming, despite the challenges of late, is still worth investing in. It is still an industry we can be proud of and one which will still be here long after anyone reading this is.
Thankfully, there are still people who take a long-term view of our oldest industry, which after all has survived for centuries despite recessions, wars and bad weather.