Euro winners on the farm

UK FARMERS who opted to take their single farm payment in euros last year benefited by up to 7 per cent when compared with their neighbours who stayed with their payment coming through in sterling.

But with wide fluctuations in the exchange rates looking set to continue in 2011 according to currency experts, this will mean that those who are expecting a certain amount of income from their single farm payment this year could be in for a nasty shock.

Tom Barclay from World First foreign exchange brokers said yesterday that the time was now right for farmers to start making some careful plans to make sure they got the best out of their subsidy payments.