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Maldon: Soaring farmland prices affecting farm expansion
11:00am Saturday 14th September 2013 in Local News
Farmers are left struggling to buy land after land prices trebled.
The price of farmland in the east of England hit a record high during the first half of this year, according to the latest Royal Institution of Chartered Surveyors (RICS) Rural Land Market Survey.
It has escalated from £2,238 per acre in 2004 to more than £8,000, making expansion increasingly difficult for smaller scale local farmers.
Gary Ferguson, of Hales Farm, Mundon, said: “It’s impossible now for young entrants into farming to gain land unless someone can lease it to them, or buys the land for them.”
Paul Kelly, managing director of Kelly Bronze Turkeys in Danbury, said: “We only needed barns to breed the turkeys but even though we didn’t buy a lot of land it was still difficult to expand.
“The price of land is far too expensive if you want to make a return on your investment.
“If you farm the land you’ll never get back the money you spent on it.”
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