Agribusiness News June 2023

Welcome to the June edition of Agribusiness News.  If you prefer to download this document click the download button.

N e w s  i n  b r i e f

Competing land use goals high on agenda

May saw the EU vote against a proposed nature restoration law, due to the “lack of clarity on the potential impact of the proposed regulation on farmland and production”. As nature-based targets become a part of mainstream agricultural debates, this signals that though there is existing action and indeed willingness to further incorporate nature restoration into agriculture, greater detail on how this may impact production and be compensated for is needed to reach agreements to benefit all stakeholders. This month’s article on biodiversity explores options for biodiversity land use on farms.

A recent report published by SRUC highlights the challenges to rural land use of meeting multiple targets of carbon sequestration, nature diversity, and rural economic (e.g. farming) support, as well as evidence on the impact of investments on rural land prices and their unintended consequences. Expansion of specialist expertise in this area, as well as boost to the rural land fund to support community ownership of rural land, reflect competition for land as a major and growing concern in industry and policy.

In economic news, fresh food inflation has reduced slightly, although a further interest rate rise in expected, to be announced on 22nd June. While slowing of food inflation has helped the pound reach it highest value to the Euro in 6 months (beating predictions in January), its current strength is as much to do with weakening Euro linked to the German recession.

Key upcoming events:

• The National Beef Association’s Scottish Beef Event – Tuesday 6th June, Dalswinton, Auldgirth, Dumfries and Galloway.
• National Sheep Association’s North Sheep Event – Wednesday 7th June, Bradford House Farm, Ponteland, Northumberland.

Next month:

• Soil compaction
• All about the bees

This month’s editor: Anna Sellars