Optimism flourishing amongst producers, says survey

Scottish farmers are reporting increased prosperity and optimism for the future, according to the latest Scottish agricultural survey from Lloyds TSB Scotland.

In the survey, farmers have recorded the highest level of optimism and the second-highest level of prosperity in 12 years. Those engaged in arable farming reported the most positive results, with 91% stating their business was profitable in their last complete financial year, a rise of 16% on the previous year.

Only hill farming reported a fall in profitability, dropping 19% to 65% of farms. Across all farm types, 82% recorded a profitable financial year.

Investments made in 2007 exceeded forecasts by about a third, with plant and equipment being the main beneficiary.

Plans suggest an expansion in the arable and dairy sectors, while beef, sheep and pig farming numbers are likely to contract.