The Farm Business Survey publish growing value of diversification
2016 has seen a rise in agricultural farms diversifying their land as an efficient way profit more from their land.
Income from farm diversification was worth £580million in 2016.
The most popular and profitable choice in 2016 was letting buildings and spaces, which generated an average income of £17,400 per farm.
Second most popular was renewable energy, 23% of farms now produce ‘green energy; which is up 5% compared to last year, influenced by tariff reductions in 2016.
Processing and retail of farm produce had an average income of £9,600 per farm.
The Farm Business Survey (FBS) provides information on the financial, physical and environmental performance of farm businesses in England to inform and evaluate policy decisions. The FBS is intended to serve the needs of farmers, farming and land management interest groups, government, government partners, and researchers. Survey results typically give comparisons between groups of businesses, for example between regions or between types of farm. The results attracting most attention are on farm incomes and productivity. Some of the results are produced and published by the Department for Environment, Food and Rural Affairs (Defra), whilst others are produced and published by Rural Business Research (RBR) team.
View the full report here.