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Rural Land Slides Towards Doom in 2003

LONDON-If you own agricultural land, you're going to have to scrabble about in the muck to make any money in 2003. Land agent FPDSavills says that farming looks like it's dying a slow death.

By Charlie Jacoby | Updated on January 03, 2003

LONDON-FPDSavills’ head of rural property Hugh Coghill offers little hope for agricultural landowners in 2003. “Having witnessed the events of 2002, it’s easy to believe that being a rural business is akin to a long, tortured demise,’ he said. We have seen corn as low as £45/tonne ($70/ton); milk at around 16p/litre ($0.94/US gallon) and dismal farm accounts. We have watched the advent of the right-to-buy in Scotland, the beginnings of the impositions of the Countryside Rights of Way Act, indecision and argument over CAP reform, perhaps imbalanced views on environmental issues, and the threat to the country’s leisure pursuits in the hunting debate.”

Coghill says the way forward for landowners lies in intelligent use of grants and the important new market of renewable energy. “There is little doubt that British farming needs reform and in many ways the CAP has protected the inefficient,” he said.

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