Digging for growth

IT is paradoxical that agriculture is one of the few sectors to be witnessing some "green shoots" of growth when there has been so little for farmers to cheer in recent years.

Yet, as Sainsbury's becomes the latest supermarket to source more food domestically, the resilience of farmers offers a shining example to a country still stunned by the spending cuts.

Unlike many union-dominated industries, farmers have not downed tools at the first sign of trouble. They have had to work through the issues, and financial challenges, that have confronted agriculture.

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And, while some farms have not survived the winds of change, there is some tentative evidence to suggest that farming's relentless drive to champion local produce is paying dividends.

This united front has worked. So, too, has the long-term outlook that has been adopted by many farming families – they are now seen as low-risk borrowers due to the assets that they have as collateral.

The lesson, therefore, is a simple one – hard work can be rewarded.

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