Relief may be coming for farmers as costs ease

The grass is looking greener for farmers eventually. (Image: Getty)

Mon, 24 Apr 2023

Rural cost inflation is set to fall relatively rapidly, according to Westpac Bank's senior agri economist, Nathan Penny.Input prices across all farm and orchard types, (excluding livestock costs) rose an annual 15.3% in the December quarter. March quarter data, which will provide a further steer, is due May 18. “We estimate that annual rural cost inflation will fall to around 4% by December 2023. We expect a further fall to around 2% by December 2024,” Penny said.Importantly, he expects feed costs to fall steeply.Supercharg...

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