Farmers increasingly turning to diversification (From Gazette & Herald)

Farmers increasingly turning to diversification

FARMERS in Yorkshire and the Humber and North-East regions made £23.8m from new ventures such as tourism, sports and recreation last year, recent figures show.

In England, farmers made a total of almost £300m from such ventures. Total income from farming was £3 billion in the UK last year, down 5.4 per cent in current prices on last year, but with the amount farmers earned from non-agricultural business reaching record levels.

More than a third of farmers in Yorkshire and the Humber and the North-East are now diversifying. The survey indicates that in the Yorkshire and the Humber and the North-East regions, around 370 farmers have diversified into sport and recreation, more than 590 are running tourist ventures and more than 300 are involved in processing and retailing.

DEFRA's Farm Business Survey shows that:

48 per cent of full-time farmers have diversified.

Average earnings were £5,000 per farm from diversification.

Turnover from diversification has risen to £550m (£425m in 2002-3).

2,200 farms had turnovers of more than £50,000 from diversified businesses.

Updated: 10:40 Wednesday, February 02, 2005