The rising cost of food production is driving hundreds of farmers out of business, and they aim to stop producing milk in the next two years.
According to a National Farmers’ Union poll, 8% of dairy farmers will stop production by 2024, which would represent 840 producers nationwide.
Dairy producers’ top concerns for the following two years were feed (93%) prices, followed by fuel (91%) prices, energy (89%) prices, and fertilizer (89%) prices (88 per cent).
Additionally, a third of farmers who grow arable land intend to switch from growing wheat for bread to growing it for animal feed because it requires less fertiliser, the cost of which has increased recently.
The decisions farmers are making now will feel more risky than ever before because of the doubling of fertilizer prices, the increase in feed and fuel prices, and the unpredictable nature of the weather.
The decisions farmers are making now will feel more risky than ever before because of the doubling of fertilizer prices, the increase in feed and fuel prices, and the unpredictable nature of the weather.