Skyrocketing costs hampering UK growers’ ability to take climate action

That is according to new research published by NatWest today (25 August). The bank polled more than 250 decision-makers at agricultural businesses of a range of sizes across the UK.

Almost all of the professionals polled, 99%, said they had seen the cost of at least one of their key inputs increasing significantly above the UK’s inflation rate this year. Two-thirds are dealing with significantly higher fuel bills, while around half are recording dramatic increases in feed and/or fertiliser costs.

The Agriculture and Horticulture Development Board stated in May that the price of UK-made ammonia nitrate fertiliser had increased by 152% within a year. For imported product, the rise was even steeper, at 177%. Other common types of fertiliser had also undergone significant cost increases, more than doubling, within that 12-month period. The Board also recorded a 15.6% year-on-year increase in concentrated animal feed prices.

As a result of these increased costs, a significant minority – 37% – say they are not going to be able to deliver the initiatives they had planned in the near term to reduce greenhouse gas emissions and improve climate resilience.

Read more at edie.net


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