2013-06-14   facebook twitter rss
Long-Term Grower Confidence Should Remain Strong, Says Lloyds TSB Agriculture

Arable farmers concerned about the prospects for their business over the next year should not lose sight of the fact that the long-term outlook for British agriculture remains strong, Lloyds TSB Agriculture has said.

Alick Jones, Lloyds TSB Agriculture Policy Director, said the bank is confident about the future of British farming and is ready to help growers who needed help steering their businesses through any short-term difficulties they are currently experiencing.

Alick Jones

Alick Jones

Speaking at the Cereals Event at Boothby Graffoe in Lincolnshire on Wednesday, 12 June, Mr Jones said poor growing conditions and market volatility had created tough conditions for producers, but if farmers review their finances now this could help to relieve some pressure.

“We realise there are short-term issues facing the sector and that farmers are working in an environment where extreme weather and price volatility will continue to feature,” he said.

“But we remain confident that the medium and long-term outlook is positive and will take a longer-term view to help farmers through this period.

“Lloyds TSB’s local agricultural managers are on hand to help farmers find ways to manage their cash flow and restructure their businesses or finances where appropriate.

“They understand the conditions growers are working in and are empowered to look at a range of options to support businesses through what remains a potentially challenging period.”

Mr Jones’ comments came after a poll of NFU members revealed the overall harvested area on respondent’s farms is on course to be 30% lower than in 2012 thanks to extreme weather.

A separate NFU survey also showed that 45% of arable farmers are less confident about the prospects facing their farm business in the next 12 months compared to last year.

“If a business has concerns about cash flow structure they should discuss them with their local Lloyds TSB manager who understands farming in their locality as well as the wider market issues,” Mr Jones added.

“We are confident in the prospects for the sector and want to work with farm businesses, farmers and their families to work through any difficulties with them.”

Lloyds TSB


   
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