Owner-occupiers and cereal farmers were the only two categories of farmers whose perceptions of risk had not been affected by the downturn. But the number of farmers in other sectors who had been affected has doubled, with tenant farmers particularly seeing credit as an issue.

The results were put together by NFU economist James Edwards, who said that although farmers were still receiving decent treatment from the banks, the terms they are now being offered have altered. He said: "The banking sector is still taking a relatively favourable line in terms of the availability of lending to farmers, although it is clear that there has been a shift in both the rates and terms offered to farmers.

"However, what the results also show is a risk of complacency, with more producers now indicating credit is a bigger risk to their business, especially tenant farmers.

"With major capital costs looming to meet new environmental and animal welfare rules, there is every risk that credit could be a major issue for many producers."