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UK Farming Statistics

08 July 2015

UK June 2015 Farming and Food BriefUK June 2015 Farming and Food Brief

UK Farming Statistics

Food prices continue to fall

The fall in food prices over the last year has been driven by significant declines in international food commodity prices, falling oil prices and continuing intense price competition between supermarkets. Some of these effects take time to feed through to inflation.

Year on year food prices have continued to fall, with an annual rate of inflation of -1.8 per cent in the year to May 2015, according to official figures released today.

General inflation is 0.1 per cent, up from -0.1 per cent in April.

Total Income from Farming in England

Total Income from Farming in England is estimated to been little changed between 2013 and 2014, rising by 1.2% (£48 million) to £4,197 million, compared to a 2.7% fall in the United Kingdom.

Gross Value added at basic price in England in 2014, which identifies agricultures contribution to the Gross Domestic Product (GDP), rose by £485 million (6.4%) to £8,004 million.

In the English regions, the East of England contributed almost a quarter to the total income from farming for England in 2014, followed by the South West and Yorkshire & the Humber which contributed around 16% each. 

Milk prices

For May 2015 there has been a 2.1% (0.52p per litre) decrease in the UK average farm gate milk price since last month to 24.06p per litre. This represents a 25% decrease on the May 2014 price. As expected the price has again fallen slightly due to higher volumes as we head to the peak of the spring flush.

Farm Succession

In 2013, just over a third (37%) of farm businesses had a nominated successor and in the majority of cases the successor was from within the family. Over a quarter (27%) of farm businesses stated that they had no nominated successor, while 29% of farm businesses replied that it was too early in family or business circumstances to make succession arrangements. A further 8% of farm businesses were unsure of their intentions. Of those businesses with a nominated successor, the majority (94%) stated that the successor had a farming background. For the remainder, the successor would be new to farming.

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