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Annual Farm Input Costs Soar
UK - Farm input costs have soared by 30% in the past year, according to stark statistics due to be released next week.The latest Agricultural Inflation Index will show dramatic price increases for major inputs including fuel, fertiliser and feed, as well as seed and machinery.
The figures are prepared every six months by the eastern counties farmer-owned buying group, Anglia Farmers, and reported by FWI.
Soaring costs
Director and Norfolk farmer, Jim Alston, said costs had soared since the group released its last six-monthly ag-inflation figure of 16.65% at the end of March.
"The full year's figures are just about complete and if you double the six-month figure, you come close to what the full year will look like," he added.
"Six months ago, it was felt that farm input prices were reaching a peak.
"Unfortunately, this has been far from the case and the rate of increase has been maintained in the second half of the year."
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