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Agriculture 2019 outlook

Video transcript

Agriculture 2019 Outlook

2018 was a really interesting year for UK agriculture. So, from a weather point of view we had the Beast from the East and then we had the long hot summer all which impacted productivity in the sector.

Politically, obviously Brexit, agriculture has been front and centre of that political discussion primarily because of migrant labour and trade agreements all of which really impact on agriculture.

And then thirdly the Agricultural Bill. Launched in 2018 through a big period of public consultation and it puts agriculture really at the forefront of the discussions. That's probably the first UK-based piece of legislation that's gone on for 70 years and it's going to impact really significantly UK agriculture for the next seven years at least through the transitionary period.

Opportunities

I think 2019 will bring some real opportunities. What we've really got to focus on is the provenance of UK food. There’ll be an opportunity for the consumer to really trust in British agriculture and the quality of the produce

Challenges

So in 2019 clearly Brexit will still be rumbling around and that will create an environment of challenge and uncertainty for many of our clients.

So what I would really encourage people to focus on is how they consider reducing their costs, how they have a really clear business plan, how they really understand what the consumer wants and also make sure that their people really understand the mission of their business and what they're trying to achieve during 2019.

Looking Forward

One of the ways that Barclays is really helping is making sure that we have got well trained local agricultural managers who know their local market being able to provide that real advice and guidance to help our clients survive and thrive.

End transcript

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