Phil Hogan: New lenders seizing opportunities in farming

Traditional lending institutions such as banks have been accused of doing a poor job in understanding the nature of the agri-food sector.

European agriculture commissioner Phil Hogan, who levelled the criticism, said that they have also failed to see the enormous potential for growth and profitability in the sector.

“As a result, other players in the sector are taking the bull by the horns. the sector is dynamic, but is exposed to outside factors such as weather and global markets,” he said.