Britain's agricultural sector - fresh optimism despite challenges ahead

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27/09/2018

High demand within the food sector and a prolonged period of better prices is giving the agricultural sector reason for optimism, according to the Head of Agriculture at Clydesdale and Yorkshire Banks.

Brian Richardson and his team spent the summer meeting with farmers and the agricultural supply industry at more than 40 shows across the nation.

The Bank attended, sponsored and supported shows including the Royal Highland Show in Edinburgh; the Great Yorkshire Show; the Black Isle Show near Inverness; the Royal County of Berkshire Show and the Westmorland Show in the Lake District.

Brian said: “The number of events in the show calendar is testament to the sector and a great advert for UK agriculture. We are pleased to be able to play our part in supporting these important events, which are always well attended and provide us with valuable opportunities to network and discuss the challenges facing businesses within the agricultural community.”

He added: “It hasn’t been the easiest of summers. The issues caused by the dry weather in June and July made for a particularly tough summer for Britain’s farmers, but it did improve when the rain came during the second half of August and the wet weather has continued into September, offering some much needed relief. Talking to our customers, there were some immediate concerns over the financial consequences of the dry weather. For example, some livestock diets needed to be supplemented using winter forage supplies, but the industry has again proved how resilient it is in the face of a significant challenge.”

Brian Richardson joined the Bank in July and has attended as many shows as he could while he settled into the role.

He said: “Being at the agricultural shows was incredibly important during my first few months at CYBG and I have thoroughly enjoyed meeting customers and having the opportunity to speak to them in person. The overall theme of my conversations, and the conversations the wider team has had, are that the businesses within the agricultural community remain optimistic about the future. A reasonable prolonged period of better prices in most farm sectors, alongside good demand in the food sector, is giving people reason for positivity. What will happen post Brexit remains a major question mark but the timeframe provided by the Government for a transition to a new support framework is giving farmers time to make decisions, once the direction of policy is fully understood.”

Now the summer shows are coming to an end, the team’s attention turns to the winter livestock events and they are also attending a number of industry conferences.

Brian added: “We are committed to supporting the farming and rural sector, especially as we now face the prospect of the UK Government setting its own agricultural policy for the first time in 40 years, post-Brexit. We pride ourselves on the high standard of support and guidance we can give our customers to navigate these challenging times but also be in a position to allow them to take advantage of opportunities.”

Read more from Brian and find out about what makes us a strong Bank for business customers in the agri-sector in the latest edition of Business Banking Insights.