Boost for agricultural industry
Updated 12:22pm Wednesday 11th June 2014 in Business news
YORKSHIRE'S agriculture industry is showing one of the strongest recoveries in the UK according to new figures.
Data for May 2014 showed that the region has one of the best performing sectors across England and Wales.
According to insolvency trade body R3, just 13 per cent of agricultural businesses in Yorkshire have a higher than normal risk of insolvency .
Levels of agricultural distress have dropped steadily in Yorkshire over the last six months, falling by almost three per cent since the previous month with 203 agricultural businesses identified as being at high risk in May out of 1,472 active companies.
The recovery was reflected in a positive trend across the UK which was most marked in the North of England with agriculture in the North East and the North West also showing resilience.
William Ballmann, chairman of R3 in Yorkshire, said: “It is encouraging to see signs that in Yorkshire where many livelihoods still depend on the land, farming enterprises are starting to recover.
"This resurgence may be an indication that farmers are starting to benefit from growing demand for quality, local produce."
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