UK arable farmers will face a “cash crisis” this summer when they are forced to fork out for more expensive fertiliser as the US-Israeli campaign against Iran restricts the global supply of raw materials to help grow crops.
Farmers who grow grains are already under financial pressure following two consecutive years of poor harvests and a five-year low wheat price. Now they could see production costs soar, in what would be a repeat of the input cost crisis that followed Russia’s full-scale invasion of Ukraine.
“The hit to farmers’ pockets will be this spring and summer,” said Nick Shorter, chief executive of farm management firm Velcourt, which oversees 56,000 hectares of UK arable farmland. “There is a real cash crisis looming.”
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