Bank Advances to Scottish Agriculture

Scotland's Chief Statistician this week published results from the 2011 survey of Bank Advances to Scottish Agriculture.

These results are based on information collected from banks and mortgage companies operating in Scotland.

The survey details the total outstanding balance of advances from banks and mortgage companies to Scottish agriculture on 31st May 2011 - it is not an estimate of new lending.

The statistical publication provides data tables along with brief commentary and graphics on the latest annual changes and trends since 1980.

The main findings show:

• The total outstanding balance of advances from banks and mortgage companies to Scottish agriculture on 31st May 2011 was £1,612 million. This was £105 million (7 per cent) higher than in 2010, or an increase in real terms of 2.7 per cent
• Over the past year, there was little change in the proportion of the balance of outstanding advances to owner-occupier farmers (88.5 per cent), tenant farmers (8.5 per cent), agricultural contractors (2.1 per cent) and livestock salesmen (1.0 per cent)
• The distribution of advances to owner-occupier farms generally reflects the structure of agriculture in Scotland, where 75% of agricultural area (excluding common grazing) is owner-occupied

The publication also contains related information from other data sources, including:

• The 2011 Economic Report on Scottish Agriculture
• The 2009/10 Farm Accounts Survey
• Bank of England data on the level of UK outstanding loans and advances to selected business sectors

More farming and agricultural news from Scotland.