CAMPAIGN Food and job security/Iran conflict
n By Duncan Milligan THE AGONY OF AGFLATION
Back in Agriland once more and a ‘cost of farming crisis’ is emerging. Costs are up, but farm gate prices are down.
THE FIGURES The official hard data is lagging two months behind. Analyst figures are more up to date THIS LITTLE PIGGY…
As of May, costs are up 8.4% annually (estimate) But farm gate prices are down 5.8% • Pig prices 12% lower • Beef prices 10% lower
• Milk prices 25% lower Source: The Andersons Centre
FARMER BROWN, THE PRICE IS DOWN
Farm gate prices – what farmers get – are broadly down: • Wheat down 5.9% • Barley down 4.5% • Oats down 16.4%
• Animal and animal-based products down 7.3% Sources: Defra/ONS
PAIN IN THE PURSE
You and I are now shelling out 12% more for wheat- based products
Red diesel has doubled in price from around 67p to around £1.20 a litre – although the govt has cut fuel tax on this by just over 4%
Sources: BBC, Bank of England, NFU
Consumers are seeing price inflation in the shops – retail food price inflation is expected up between 6 and 7% by end of the year, according to the Bank of England
Little of that increase will reflect what is being paid to farmers at the farm gate
“Instability and volatility are becoming increasingly chronic and turbulence is the new normal. The new reality we face did not begin with the war in Iran, nor will it end with a reopened Strait”
Yvette Cooper MP, Foreign secretary
Background image AI gnerated. Other photos: Getty Images
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