In eastern England’s breadbasket, autumn’s dry, golden weather has been ideal for sowing cereals. After last year’s low yields, it should provide some comfort for farmers such as Charles Bracey.
But this year it does not. “We’re drilling this week in the knowledge that we’re not going to make any money from it,” said the 60-year-old farmer, who grows wheat, sugar beet and vegetables across two farms totalling 1,000 acres between the villages of Postwick and Stalham in Norfolk. “Prices are grim and it doesn’t look like they are going to get any better.”
Agricultural commodities such as grains and sugar have plummeted on futures markets as global supplies have surged. European farmers are suffering in particular as they contend with high input costs and increasingly competitive global rivals.