Follow the Money!
Analysing the influence and flow of money from institutions into land purchase and active farm management across the world is the subject of a forth coming study by an East Yorkshire arable farmer.
Mr Falkingham explained: In recent years UK farmland values and returns have generally increased, and so has the influx of institutional money. However, this is dwarfed by the amount going into agricultural land in developing countries in South America, Eastern Europe and the former USSR. For example, one company now owns and farms more than a million hectares in South America.
He continued: Commercial judgement underpins most of my farming decisions, and I hope to gain first hand experience and global knowledge of this investment phenomenon. This would then give me a better understanding of the backdrop to the commerciality of world farming and ultimately help inform my decisions as a farmer here in East Yorkshire.
During the year Mr Falkingham hopes to visit farming enterprises and conferences in Brazil and Argentina, as well as Europe, former Eastern bloc countries, and land agents and institutions in the UK. His first port of call will be Wellington, New Zealand, where he will meet international Nuffield scholars at a five day agricultural conference, and also visit large scale farms. One of the key benefits of the New Zealand visit will be to meet and exchange ideas with Nuffield scholars from around the world and across the farming spectrum.
Mr Falkingham, 42, farms 320 hectares near Howden as part of the family business where the main activity is growing wheat, oilseed rape and vining peas for Birds Eye. Following a degree in agriculture from Newcastle University, Mr Falkingham started his working life as a trader with Cargill plc before joining the family farming enterprise. He is married he and his wife Julie have two sons.
YORKSHIRE AGRICULTURAL SOCIETY:
The Yorkshire Agricultural Society was formed in 1837 and is a charity dedicated to supporting the farming industry and rural life. The value of the support it provides to regional farming and countryside initiatives has risen year on year to almost 1m. It is based at the Regional Agricultural Centre, Harrogate; the RAC includes Fodder, the Societys regional food shop and caf which opened in June 2009. Both the RAC and Fodder have won a number of awards, including most recently being named as the Observer Monthly Best Independent Local Retailer.
The Society is the organiser of the annual farming and countryside showcase, the Great Yorkshire Show and its sister event, Countryside Live. The 2011 Great Yorkshire Show runs from Tuesday 12 Thursday 14 July and Countryside Live is on Saturday 23 and Sunday 24 October. The 2010 Great Yorkshire Show attracted 131,382 visitors and there were 10,221 visitors to this years Countryside Live.