Pictured above: Local land expert Trevor Wells advises
farmers and agricultural businesses across the region
Recent reports* from the UN's Food and Agricultural Organisation
(FAO), state that world food prices have gone above previous
records of 2008 and although this is good news for arable farmers
growing cereals for human consumption, one local land expert is
warning that those who have not re-insured their produce could well
be looking at severe losses if disaster strikes.
Trevor Wells, of Wells McFarlane, a leading firm of East
Midlands Chartered Surveyors with a broad experience in
agricultural loss valuations, is strongly recommending that local
farmers give their insurance broker a call to increase the cover on
their produce.
He said: "Many farmers have simply not thought about whether
they are adequately covered and should disaster happen, loss
adjustors will be quick to point out that they were under insured,
which would mean only a partial recovery of their losses. With
wheat prices currently reported at over £200 per tonne and
oil seed rape at over £400 per tonne, although it will
increase premiums slightly, it is well worth making that call in my
opinion."
* Source BBC January 5th