Farmers around the world to grow fewer grain crops as increased production costs narrow profit margins
ABCIn short: Farmers around the world say profit margins are being squeezed to the point where some food is unviable to grow. Global wheat and corn prices have halved since record peaks in 2022, but the cost of essential inputs such as fertiliser remain historically high, creating a squeeze on farm profit margins and making some crops unviable to grow. Farmers in Brazil — one of the world's biggest exporters of animal feed corn — are expected to plant seven per cent less export quality corn this year than last year. "So we are seeing likely issues with Canada's crop, we may see reduced plantings next year, we could see lower yield in Russia Western Australia is dry. "There's a lot riding on this year, last year was such a big financial hit for nearly every farmer in this area, trying to get decisions right is crucial," he said.
History of this topic
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Double whammy: Both farmers and consumers hit by high prices
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Soaring food prices serve up recipe for disaster
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Farmers wary over cultivation of nutrition rich mini-millets
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Reduction in number of farmers will help raise farm incomes: Ramesh Chand
Live Mint
Farmers grapple with rising costs, falling incomes
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